Pennsylvania CCRC's $119 Million Offering Sees Solid Demand

Albano, Christine
January 2005
Bond Buyer;1/28/2005, Vol. 351 Issue 32059, p6
Trade Publication
The article reports on the demand for $119 million in nonrated bonds sold by Pennsylvania's Montgomery County Industrial Development Corp., for a start-up continuing care retirement community. The article further emphasizes that the deal was oversubscribed four times, allowing senior manager J. P. Morgan Securities Inc., to lower the yields on its final 2035 maturity from 6.5% to 6.38%, which left the bonds just 189 basis points higher than the 4.49% yield on Municipal Market Data's triple-A, 30-year general obligation scale.


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