Published on 4/11/2013 in the Prospect News Municipals Daily.
New Issue: Marlboro Psychiatric, N.J., releases details on $73.53 million deal
By Sheri Kasprzak
New York, April 11 - The New Jersey Health Care Facilities Financing Authority released additional information Thursday on its $73.53 million sale of series 2013 Department of Human Services lease revenue bonds for the Marlboro Psychiatric Hospital.
The bonds were sold competitively. BofA Merrill Lynch won the bid at a 3.62% true interest cost, said Linda Hughes, spokeswoman for the authority.
The bonds are due 2014 to 2033 with 3% to 5% coupons, according to a pricing sheet.
Proceeds will be used to finance the demolition and remediation of the existing facilities at the Marlboro Psychiatric Hospital and the construction of group housing.
| Issuer: | New Jersey Health Care Facilities Financing Authority/Marlboro Psychiatric Hospital
|
| Issue: | Series 2013 Department of Human Services lease revenue bonds
|
| Amount: | $73.53 million
|
| Type: | Competitive
|
| Underwriter: | BofA Merrill Lynch (winner)
|
| TIC: | 3.62%
|
| Ratings: | Moody's: A1
|
| Fitch: A+
|
| Pricing date: | April 10
|
| Settlement date: | April 18
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,395,000 | 2014 | Serial | 4% | 104.905
|
| $1.23 million | 2015 | Serial | 4% | 108.016
|
| $1.08 million | 2016 | Serial | 4% | 110.381
|
| $1,125,000 | 2017 | Serial | 4% | 112.215
|
| $1.17 million | 2018 | Serial | 4% | 113.496
|
| $1,215,000 | 2019 | Serial | 4% | 114.233
|
| $1,265,000 | 2020 | Serial | 4% | 114.446
|
| $1,315,000 | 2021 | Serial | 4% | 114.076
|
| $1,365,000 | 2022 | Serial | 4% | 113.853
|
| $1,425,000 | 2023 | Serial | 4% | 113.571
|
| $1.48 million | 2024 | Serial | 4% | 111.725
|
| $1.54 million | 2025 | Serial | 4% | 109.537
|
| $3,055,000 | 2026 | Serial | 3% | 98
|
| $3.15 million | 2027 | Serial | 3.125% | 97.667
|
| $3,255,000 | 2028 | Serial | 3.25% | 97.974
|
| $8,555,000 | 2029 | Serial | 5% | 115.921
|
| $8.92 million | 2030 | Serial | 3.5% | 99.352
|
| $9,265,000 | 2031 | Serial | 4% | 104.327
|
| $9.64 million | 2032 | Serial | 4% | 103.884
|
| $10,085,000 | 2033 | Serial | 5% | 113.924
|
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