Published on 11/24/2014 in the Prospect News Municipals Daily.
New Issue: New Hope Cultural, Texas, sells $53.08 million Wesleyan Homes bonds
By Sheri Kasprzak
New York, Nov. 24 – The New Hope Cultural Education Facilities Finance Corp. in Texas priced $53.08 million of series 2014 retirement facility revenue bonds for the Wesleyan Homes Inc., according to an official statement.
The bonds were sold through underwriter Ziegler Inc.
The bonds are due 2016 to 2019 with term bonds due in 2024, 2029, 2035, 2043 and 2049. The serial coupons range from 2.25% to 4%.
The 2024 bonds have a 4.5% coupon priced at par and a 5% coupon priced at 103.688.
The 2029 bonds have a 5% coupon priced at par and a 5.25% coupon priced at 101.956.
The 2035 bonds have a 5.25% coupon priced at par and a 5.5% coupon priced at 102.483.
The 2043 bonds have a 5.5% coupon priced at 100.764, and the 2049 bonds have a 5.5% coupon priced at 99.689.
Proceeds will be used to construct new independent living units, assisted living units, cottages and a commons area at the Wesleyan at Estrella in Georgetown, Texas.
| Issuer: | New Hope Cultural Education Facilities Finance Corp./Wesleyan Homes Inc.
|
| Issue: | Series 2014 retirement facility revenue bonds
|
| Amount: | $53.08 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Inc.
|
| Pricing date: | Nov. 13
|
| Settlement date: | Dec. 3
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $120,000 | 2016 | Serial | 2.25% | 100
|
| $420,000 | 2016 | Serial | 4% | 101.851
|
| $140,000 | 2017 | Serial | 2.75% | 100
|
| $515,000 | 2017 | Serial | 4% | 102.505
|
| $145,000 | 2018 | Serial | 3.25% | 100
|
| $535,000 | 2018 | Serial | 4% | 102.177
|
| $150,000 | 2019 | Serial | 3.5% | 100
|
| $555,000 | 2019 | Serial | 4% | 101.692
|
| $845,000 | 2024 | Term | 4.5% | 100
|
| $3,195,000 | 2024 | Term | 5% | 103.688
|
| $1,055,000 | 2029 | Term | 5% | 100
|
| $4,095,000 | 2029 | Term | 5.25% | 101.956
|
| $1.67 million | 2035 | Term | 5.25% | 100
|
| $6,565,000 | 2035 | Term | 5.5% | 102.483
|
| $15,845,000 | 2043 | Term | 5.5% | 100.764
|
| $17.23 million | 2049 | Term | 5.5% | 99.689
|
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