Published on 5/4/2012 in the Prospect News Municipals Daily.
New Issue: Folkstone, Wayzata, Minn., prices $81.26 million housing revenue bonds
By Sheri Kasprzak
New York, May 4 - The City of Wayzata, Minn., sold $81.26 million of series 2012 senior housing revenue bonds for the Folkstone Senior Living Community, according to a pricing sheet.
The deal included $75.26 million of series 2012A senior housing revenue bonds and $6 million of series 2012B taxable bonds.
The 2012A bonds are due 2020 to 2027 with term bonds due in 2032, 2039 and 2047. The serial coupons range from 4.7% to 5.3%. The 2032 bonds have a 5.5% coupon priced at 97.835 and the 2039 bonds have a 5.75% coupon priced at 98.908. The 2047 bonds have a 6% coupon priced at 100.341.
The 2012B bonds are due Nov. 1, 2020, and have a 5.5% coupon priced at par.
The bonds were sold through senior manager Piper Jaffray & Co.
Proceeds will be loaned to the Wayzata Bay Senior Housing Inc. for the construction, equipment and renovation of the Folkstone Senior Living Community.
| Issuer: | Wayzata, Minn./Folkstone Senior Living Community
|
| Issue: | Series 2012 senior housing revenue bonds
|
| Amount: | $81.26 million
|
| Type: | Negotiated
|
| Underwriter: | Piper Jaffray & Co.
|
| Pricing date: | May 3
|
| Settlement date: | May 10
|
|
|
| $75.26 million series 2012A senior housing revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $80,000 | 2020 | Serial | 4.7% | 98.829
|
| $600,000 | 2021 | Serial | 4.75% | 98.421
|
| $615,000 | 2021 | Serial | 4.75% | 98.352
|
| $630,000 | 2022 | Serial | 4.9% | 98.68
|
| $645,000 | 2022 | Serial | 4.9% | 98.63
|
| $660,000 | 2023 | Serial | 5% | 98.588
|
| $680,000 | 2023 | Serial | 5% | 98.54
|
| $695,000 | 2024 | Serial | 5.1% | 98.502
|
| $715,000 | 2024 | Serial | 5.1% | 98.458
|
| $730,000 | 2025 | Serial | 5.2% | 98.424
|
| $750,000 | 2025 | Serial | 5.2% | 98.382
|
| $770,000 | 2026 | Serial | 5.25% | 98.347
|
| $790,000 | 2026 | Serial | 5.25% | 98.308
|
| $810,000 | 2027 | Serial | 5.3% | 98.275
|
| $835,000 | 2027 | Serial | 5.3% | 98.238
|
| $9.7 million | 2032 | Term | 5.5% | 97.835
|
| $18,995,000 | 2039 | Term | 5.75% | 98.908
|
| $36.56 million | 2047 | Term | 6% | 100.341
|
|
|
| $6 million series 2012B taxable bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2020 | Term | 5.5% | 100
|
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