Published on 4/10/2013 in the Prospect News Municipals Daily.
New Issue: Greystone Park Psychiatric, N.J., sells $212.12 million bonds
By Sheri Kasprzak
New York, April 10 - The New Jersey Health Care Facilities Financing Authority priced $212.12 million of series 2013 lease revenue bonds for the Greystone Park Psychiatric Hospital, according to a pricing sheet.
The bonds (A1//A+) were sold competitively. Calls to the issuer Wednesday for the winning bidder were not immediately returned.
The deal included $50.73 million of series 2013A Department of Administrative Services lease revenue bonds and $161.39 million of series 2013B lease revenue bonds.
The 2013A bonds are due 2029 to 2033 with 3.5% to 5% coupons.
The 2013 bonds are due 2013 to 2028 with 2% to 5% coupons.
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.
| Issuer: | New Jersey Health Care Facilities Financing Authority/Greystone Park Psychiatric Hospital
|
| Issue: | Series 2013 lease revenue bonds
|
| Amount: | $212.12 million
|
| Type: | Competitive
|
| Ratings: | Moody's: A1
|
| Fitch: A+
|
| Pricing date: | April 10
|
| Settlement date: | April 18
|
|
|
| $50.73 million series 2013A Department of Human Services lease revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $9,385,000 | 2029 | Serial | 5% | 115.921
|
| $9,795,000 | 2030 | Serial | 3.5% | 99
|
| $10.14 million | 2031 | Serial | 3.5% | 98.5
|
| $10.51 million | 2032 | Serial | 3.625% | 99
|
| $10.9 million | 2033 | Serial | 3.625% | 98.5
|
|
|
| $161.39 million series 2013B lease revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.28 million | 2013 | Serial | 2% | 100.713
|
| $5.32 million | 2014 | Serial | 4% | 104.905
|
| $7.88 million | 2015 | Serial | 5% | 110.402
|
| $8,485,000 | 2016 | Serial | 5% | 113.947
|
| $8.92 million | 2017 | Serial | 5% | 117.065
|
| $9,375,000 | 2018 | Serial | 5% | 119.435
|
| $9.86 million | 2019 | Serial | 5% | 121.307
|
| $10,365,000 | 2020 | Serial | 5% | 122.332
|
| $10.9 million | 2021 | Serial | 5% | 122.849
|
| $11.46 million | 2022 | Serial | 5% | 123.008
|
| $12,045,000 | 2023 | Serial | 5% | 123.507
|
| $12,665,000 | 2024 | Serial | 5% | 122.168
|
| $13,315,000 | 2025 | Serial | 5% | 120.846
|
| $12.52 million | 2026 | Serial | 5% | 119.542
|
| $13,165,000 | 2027 | Serial | 5% | 117.96
|
| $13,835,000 | 2028 | Serial | 5% | 117.08
|
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