New Jersey Health Care to sell $219.12 million bonds in two parts

By Cristal Cody

Tupelo, Miss., April 1 - New Jersey Health Care Facilities Financing Authority plans to sell $219.12 million in two tranches of bonds for the Greystone Park Psychiatric Hospital project the week of April 8, according to a preliminary official statement.

The sale includes $46.12 million of series 2013A Department of Human Services lease revenue bonds due 2029 through 2033 and $173 million of series 2013B lease revenue refunding bonds with serial maturities from Sept. 15, 2013 through Sept. 15, 2028.

The bonds will price through a competitive sale on April 9.

Acacia Financial Group, Inc. is the financial adviser.

Proceeds will be used to refund and defease all of the authority's outstanding series 2003 bonds and 2005 bonds and to finance the completion of the demolition and remediation of the psychiatric facilities formerly used by Greystone Park Psychiatric Hospital.

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