Published on 4/2/2015 in the Prospect News Municipals Daily.
New Issue: North Carolina Medical Care prices $66.14 million of refunding bonds
By Sheri Kasprzak
New York, April 2 – The North Carolina Medical Care Commission priced $66,135,000 of series 2015 health care facilities first mortgage revenue refunding bonds for Pennybyrn at Maryfield, according to a pricing sheet.
The bonds were sold through Ziegler & Co. and Davenport & Co.
The bonds are due 2015 to 2020 with term bonds due in 2025, 2030 and 2035. The serial coupons range from 1.25% to 5% with 1.25% to 3% yields. The 2025 bonds have a 4% coupon priced at par and a 5% coupon priced at 109.568 to yield 3.875%. The 2030 bonds have a 4.5% coupon priced at par and a 5% coupon priced at 104.977 to yield 4.35%. The 2035 bonds have a 4.75% coupon priced at par and a 5% coupon priced at 103.026 to yield 4.6%.
Proceeds will be used to refund the commission’s series 2005 revenue bonds issued for the senior living facility in High Point, N.C.
| Issuer: | North Carolina Medical Care Commission/Pennybyrn at Maryfield
|
| Issue: | Series 2015 health care facilities first mortgage revenue refunding bonds
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| Amount: | $66,135,000
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| Type: | Negotiated
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| Underwriters: | Ziegler & Co. and Davenport & Co.
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| Pricing date: | April 2
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| Settlement date: | April 29
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $95,000 | 2015 | Serial | 1.25% | 100 | 1.25%
|
| $675,000 | 2015 | Serial | 2% | 100.314 | 1.25%
|
| $420,000 | 2016 | Serial | 1.75% | 100 | 1.75%
|
| $1,485,000 | 2016 | Serial | 3% | 101.747 | 1.75%
|
| $250,000 | 2017 | Serial | 2.25% | 100 | 2.25%
|
| $1.71 million | 2017 | Serial | 4% | 104.101 | 2.25%
|
| $250,000 | 2018 | Serial | 2.5% | 100 | 2.50%
|
| $1,785,000 | 2018 | Serial | 5% | 108.149 | 2.50%
|
| $250,000 | 2019 | Serial | 2.75% | 100 | 2.75%
|
| $1,875,000 | 2019 | Serial | 5% | 109.306 | 2.75%
|
| $500,000 | 2020 | Serial | 3% | 100 | 3.00%
|
| $1,725,000 | 2020 | Serial | 5% | 109.937 | 3.00%
|
| $1.25 million | 2025 | Term | 4% | 100 | 4.00%
|
| $11,595,000 | 2025 | Term | 5% | 109.568 | 3.875%
|
| $750,000 | 2030 | Term | 4.5% | 100 | 4.50%
|
| $15.59 million | 2030 | Term | 5% | 104.977 | 4.35%
|
| $1.5 million | 2035 | Term | 4.75% | 100 | 4.75%
|
| $24.43 million | 2035 | Term | 5% | 103.026 | 4.60%
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