By Sheri Kasprzak
New York, March 14 - The Travis County Health Facilities Development Corp. sold $88,695,000 of series 2012 first mortgage revenue refunding bonds for the Longhorn Village, according to a pricing sheet.
The deal included $52,195,000 of series 2012A fixed-rate bonds, $15 million of series 2012B adjustable-rate bonds, $16.5 million of series 2012C-1 temporary fixed-rate bonds and $5 million of series 2012C-2 taxable temporary fixed-rate bonds.
The 2012A bonds are due Jan. 1, 2046, and bear interest at 7.125% priced at 96.587. The 2012B bonds are due Jan. 1, 2047, and initially bear interest at 5.5% priced at par. The 2012C-1 bonds are due Jan. 1, 2017, and bear interest at 5.5% priced at 97.947. The 2012C-2 bonds are due Jan. 1, 2014, and bear interest at 6% priced at par.
The bonds were sold through BB&T Capital Markets Inc. and M.E. Allison & Co. Inc.
Proceeds will fund working capital needs of the Longhorn Village retirement community in Austin, Texas, and will refund existing debt and terminate a swap agreement connected to the refunded bonds.
| Issuer: | Travis County Health Facilities Development Corp./Longhorn Village
|
| Issue: | Series 2012 first mortgage revenue refunding bonds
|
| Amount: | $88,695,000
|
| Type: | Negotiated
|
| Underwriters: | BB&T Capital Markets Inc. and M.E. Allison & Co. Inc.
|
| Pricing date: | March 14
|
| Settlement date: | March 29
|
|
|
| $52,195,000 series 2012A fixed-rate bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2046 | Term | 7.125% | 96.587
|
|
|
| $15 million series 2012B adjustable rate bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2047 | Term | 5.5% | 100
|
|
|
| $16.5 million series 2012C-1 temporary fixed-rate bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2017 | Term | 5.5% | 97.947
|
|
|
| $5 million series 2012C-2 taxable temporary fixed-rate bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2014 | Term | 6% | 100
|
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