Senior Living Bond Yields

as of December 11, 2018

 

Taxable RatesTax Free Rates
MaturityGNMA
Taxable
FHA Tax-
Exempt
ABBBBBRefinancing &
Expansion
Start-Up
5 YearN/A1.880%2.750%3.050%3.200%3.400-3.700%4.000-4.500%
10 YearN/A2.650%3.250%3.700%4.050%4.250-4.875%4.500-5.000%
20 YearN/A3.320%3.950%4.300%4.900%4.600-5.100%5.250-5.900%
30 Year4.340%3.560%4.100%4.500%5.050%4.750-5.250%5.750-6.250%

Refinancing & Expansion rates, as well as Start-Up rates are new issue rates. Senior Living new issue rates for borrowers in specialty states are 20-30 basis points lower in yield.

 

SIFMA IndexLIBORRevenue Bond
Index (RBI)
10 Year
Treasury
30 Year
Treasury
1.65%2.42050%4.580%2.850%3.100%

 

Indicative Swap Rates
(BBB Rating Category)*
1 Year3 Year5 Year7 Year10 Year
Weekly SIFMA SWAP Rates2.07%2.15%2.15%2.30%2.33%
Weekly LIBOR Swap Rates2.88%2.85%2.85%2.87%2.93%
The above senior living rates are derived from yield spreads provided by the Municipal Market Data Inc. (MMD). These rates are further developed based on HJ Sims observations of transactions that took place the previous week in the primary and secondary markets for senior housing securities. The rates are HJ Sims’ best estimate of the yields available based on their ratings. We cannot guarantee these rates, as they are subject to general market conditions which includes but not limited to size and availability. The purpose of providing these rates is to offer a general overview of the senior housing securities market last week based on our experience and observations. The purchase and sale of securities should be conducted on an individual basis considering the risk tolerance and investment objective of each investor and with the advice and counsel of a professional advisor. All investments involve risk and may result in a loss of principal. Investors should carefully consider their own circumstances before making any investment decision. This is not a solicitation to buy or an offer to sell any particular investment. Member FINRA, SIPC | Privacy Policy
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