Published on 8/24/2012 in the Prospect News Municipals Daily.
New Issue: Colorado Health brings $150.17 million of Covenant Retirement revenue bonds
By Sheri Kasprzak
New York, Aug. 24 - The Colorado Health Facilities Authority priced $150.17 million of series 2012 revenue and refunding bonds for the Covenant Retirement Communities, said a pricing sheet.
The deal included $104,205,000 of series 2012A bonds, $22,905,000 of series 2012B and $23.06 million of series 2012C bonds.
The 2012A bonds are due 2027 and 2033. The 2027 bonds have a 5% coupon priced at 106.337. The 2033 bonds have a 4.5% coupon priced at 96.997 and a 5% coupon priced at 103.394.
The 2012B bonds are due 2022 to 2026 with 4% to 5% coupons.
The 2012C bonds are due 2013 to 2022 with 2% to 5% coupons.
The bonds (/BBB-/BBB+) were sold through senior manager Ziegler Capital Markets Inc.
Proceeds will be used to finance the acquisition, construction, renovation, remodeling and equipping of retirement communities and to refund outstanding revenue bonds.
| Issuer: | Colorado Health Facilities Authority/Covenant Retirement Communities
|
| Issue: | Series 2012 revenue and refunding bonds
|
| Amount: | $150.17 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Markets Inc.
|
| Ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB+
|
| Pricing date: | Aug. 23
|
| Settlement date: | Sept. 6
|
|
|
| $104,205,000 series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $9.93 million | 2027 | Term | 5% | 106.337
|
| $20 million | 2033 | Term | 4.5% | 96.997
|
| $74,275,000 | 2033 | Term | 5% | 103.394
|
|
|
| $22,905,000 series 2012B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.64 million | 2022 | Serial | 5% | 109.647
|
| $3,895,000 | 2023 | Serial | 5% | 108.501
|
| $4.2 million | 2024 | Serial | 5% | 107.803
|
| $2 million | 2025 | Serial | 5% | 107.11
|
| $11.17 million | 2026 | Serial | 4% | 96.308
|
|
|
| $23.06 million series 2012C bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.88 million | 2013 | Serial | 2% | 100.793
|
| $2,815,000 | 2014 | Serial | 3% | 102.727
|
| $3,115,000 | 2015 | Serial | 4% | 106.04
|
| $2,795,000 | 2016 | Serial | 4% | 106.946
|
| $1.58 million | 2017 | Serial | 5% | 111.777
|
| $1,665,000 | 2018 | Serial | 5% | 111.534
|
| $1,645,000 | 2019 | Serial | 5% | 111.198
|
| $1.85 million | 2020 | Serial | 5% | 110.572
|
| $1.86 million | 2021 | Serial | 5% | 109.922
|
| $2,855,000 | 2022 | Serial | 5% | 109.647
|
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