ACTS Retirement-Life Communities considers refunding, new money bonds

By Sheri Kasprzak

New York, May 11 – The ACTS Retirement-Life Communities, Inc. is considering the sale of both refunding and new money bonds, said a statement from the company.

The proposed deal would refund the corporation’s $14,805,000 of series 2003A corporate obligation variable-rate demand bonds, $25 million of series 2006A revenue bonds through the Montgomery County Industrial Development Authority of Pennsylvania, $32.24 million of series 2006B Montgomery County IDA refunding revenue bonds, $20.62 million of series 2006A revenue bonds through the Palm Beach County Health Facilities Authority of Florida, $23,205,000 of series 2006B refunding revenue bonds through the Palm Beach County authority, $10.1 million of series 2009A-1 Montgomery County IDA revenue bonds, $14,855,000 of series 2009A-2 revenue bonds through the Gainesville and Hall County Development Authority of Georgia and $54.63 million of series 2010 Palm Beach County revenue bonds.

The company also plans to sell $70 million of revenue bonds through the Palm Beach County Health Facilities Authority along with the refunding bonds.

The pricing and timing of the deal are contingent upon market and other factors.

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