Published on 9/13/2012 in the Prospect News Municipals Daily.
New Issue: Public Finance Authority, Wis., prices $56.63 million Las Ventanas revenue bonds
By Sheri Kasprzak
New York, Sept. 13 - The Public Finance Authority of Wisconsin priced $56,627,500 of series 2012 revenue bonds for the Las Ventanas Retirement Community project via private placement, according to a pricing sheet.
The deal included $27,237,500 of series 2012A-1 bonds, $4.25 million of series 2012A-2 bonds, $11,695,000 of series 2012B-1 bonds, $1.75 million of series 2012B-2 bonds and $11,695,000 of series 2012C-1 bonds.
The 2012A-1 bonds are due Oct. 1, 2042 and have a 7% coupon priced at par. The 2012A-2 bonds are due Oct. 1, 2042 with a 3% coupon. Those bonds were not reoffered.
The 2012B-1 bonds are due Oct. 1, 2042 and have a 2% coupon. The bonds were not reoffered. The 2012B-2 bonds are due Oct. 1, 2042 and have a 2% coupon. The bonds were not reoffered.
The 2012C-1 bonds are due Oct. 1, 2042 and are non-interest bearing.
The bonds were placed through RBC Capital Markets LLC.
Proceeds will be used to refund the authority's series 2004 bonds, which were used to purchase a retirement community in Las Vegas, Nev.
| Issuer: | Public Finance Authority, Wis./Las Ventanas Retirement Community project
|
| Issue: | Series 2012 revenue bonds/private placement
|
| Amount: | $56,627,500
|
| Type: | Negotiated
|
| Investment bank: | RBC Capital Markets LLC
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 12
|
|
|
| $27,237,500 series 2012A-1 bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2042 | Term | 7% | 100
|
|
|
| $4.25 million series 2012A-2 bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2042 | Term | 3% | NRO
|
|
|
| $1,695,000 series 2012B-1 bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2042 | Term | 2% | NRO
|
|
|
| $1.75 million series 2012B-2 bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2042 | Term | 3% | NRO
|
|
|
| $11,695,000 series 2012C-1 bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2042 | Term | Non-interest | N/A
|
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