Published on 6/29/2012 in the Prospect News Municipals Daily.
New Issue: ACTS Retirement-Life prices $103.51 million of revenue refunding bonds
By Sheri Kasprzak
New York, June 29 - The ACTS Retirement-Life Communities Obligated Group brought to market $103,505,000 of series 2012 revenue refunding bonds, according to a pricing sheet.
The deal included $13,085,000 of series 2012 bonds through the Palm Beach County Health Facilities Authority of Florida, $12,025,000 of series 2012 bonds through the Gainesville and Hall County Development Authority of Georgia and $78,395,000 of series 2012 bonds through the Montgomery County Industrial Development Authority of Pennsylvania.
The Palm Beach bonds are due 2022 to 2023 with 5% coupons. The Gainesville and Hall County bonds are due Nov. 15, 2017 and Nov. 15, 2022. The 2017 bonds have a 4% coupon priced at 108.026, and the 2022 bonds have a 5% coupon priced at 111.321. The Montgomery County bonds are due 2023 to 2029 with 5% coupons.
The bonds (/BBB+/A-) were sold through Ziegler Capital Inc.
Proceeds will be used to refund existing debt sold for the obligated group by each of the authorities.
| Issuer: | ACTS Retirement-Life Communities Obligated Group
|
| Issue: | Series 2012 revenue refunding bonds
|
| Amount: | $103,505,000
|
| Type: | Negotiated
|
| Underwriters: | Ziegler Capital Inc.
|
| Ratings: | Standard & Poor's: BBB+
|
| Fitch: A-
|
| Pricing date: | June 28
|
| Settlement date: | July 25
|
|
|
| $13,085,000 series 2012 bonds through Palm Beach County Health Facilities Authority, Fla.
|
| Maturity | Type | Coupon | Price
|
| 2022 | Serial | 5% | 110.864
|
| 2023 | Serial | 5% | 109.142
|
|
|
| $12,025,000 series 2012 bonds through Gainesville and Hall County Development Authority, Ga.
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2017 | Term | 4% | 108.026
|
| Nov. 15, 2022 | Term | 5% | 111.321
|
|
|
| $78,395,000 series 2012 bonds through Montgomery County Industrial Development Authority, Pa.
|
| Maturity | Type | Coupon | Price
|
| 2023 | Serial | 5% | 109.569
|
| 2024 | Serial | 5% | 108.462
|
| 2025 | Serial | 5% | 107.451
|
| 2026 | Serial | 5% | 106.867
|
| 2027 | Serial | 5% | 106.369
|
| 2028 | Serial | 5% | 105.957
|
| 2029 | Serial | 5% | 105.382
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
