By Sheri Kasprzak
New York, Feb. 11 - The Travis County Health Facilities Development Corp. sold $64.62 million in series 2010 revenue bonds for Westminster Manor, said a term sheet.
The bonds (//BB+) were sold through Cain Brothers.
The bonds are due 2016, 2030 and 2040. The 2016 bonds have a 6.25% coupon, priced at par, the 2030 bonds have a 7% coupon, priced at par, and the 2040 bonds have a 7.125% coupon, also priced at par.
Proceeds will be used to fund the construction, acquisition, expansion and equipment of Westminster Manor, an assisted-living facility in Austin.
| Issuer: | Travis County Health Facilities Development Corp./Westminster Manor
|
| Issue: | Series 2010 revenue bonds
|
| Amount: | $64.62 million
|
| Type: | Negotiated
|
| Underwriter: | Cain Brothers
|
| Rating: | Fitch: BB+
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 23
|
|
|
| Maturity | Type | Coupon | Price
|
| 2016 | Term | 6.25% | 100
|
| 2030 | Term | 7% | 100
|
| 2040 | Term | 7.125% | 100
|
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