NewBridge on the Charles: Exclusive Investment Opportunity
For Qualified Institutional Buyers and Accredited Investors Only**
**New issue is all sold. Please check with your advisor for secondary opportunities**
Massachusetts Development Finance Agency
Revenue Refunding Bonds
(NewBridge on the Charles Project)
Series 2017HJ Sims is pleased to serve as underwriter for the upcoming issue of refunding bonds for Massachusetts Development Finance Agency (NewBridge on the Charles Project Series 2017).
Fitch Press Release
About the Bonds
- Rated BB+ by Fitch Ratings.
- Use of proceeds: To refinance the outstanding debt; fund certain costs associated with the termination of an interest rate swap; fund a portion of the debt service reserve fund and pay costs of issuance.
- Minimum denominations of $100,000 with $5,000 increments thereafter.
- Initial Coupon: April 1, 2018 with semi-annual payments thereafter on October 1 and April 1.
- Accredited Investors and Qualified Institutional Buyers only
- No Investor Letter required.
- Tax-exempt: The Series 2017 Bonds are exempt from federal income taxes and exempt from Commonwealth of Massachusetts income taxes.
- Multiple maturities offered, up to approximately 40 years.
- Security: first mortgage lien; gross revenue pledge; debt service reserve fund
About NewBridge on the Charles
- Opened in 2009
- 162-acre site in Deham, MA (approximately 10 miles southwest of Boston)
- 256 independent living units (182 apartments, 24 villas, 50 cottages)
- 51 traditional assisted living units and 40 memory support assisted living units
- 48 skilled nursing beds
- 220 beds chronic care hospital (leased to Hebrew Rehabilitation Center – affiliate of NewBridge)
- Provides a full continuum of care for its residents
We are currently accepting indications of interest for these BB+ Fitch rated, tax-exempt municipal bonds with an expected pricing date during the week of December 4 and anticipated settlement date before the end 2017. For more information including risks, please read the Preliminary Official Statement in its entirety. If you have interest in purchasing these Series 2017 bonds from this new issue, please contact your HJ Sims financial advisor as soon as possible or call 888.588.7603.
*Subject to change
**Accredited Investor: To be accredited, an individual investor must have a net worth of over $1,000,000 (excluding primary residence) or income exceeding $200,000 (individual) or $300,000 (joint with spouse) for the two most recent years and reasonably expected in the current year.
No dealer, broker, salesperson, or other person has been authorized to give any information or to make any representation other than those contained in the Preliminary Official Statement
, and, if given or made, such other information or representation should not be relied upon as having been authorized by the Issuer, the Borrower, or the Underwriters. The information set forth herein has been obtained from the Issuer, Borrower, and other sources that are believed to be reliable, but is not guaranteed as to accuracy or completeness by, and is not construed as a representation of, the Underwriters. The information contained herein is subject to change without notice. Under no circumstances shall this constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering or solicitation will be made only to investors pursuant to the Preliminary Official Statement, which should be read in its entirety. Investments involve risk including the possible loss of principal. HJ Sims is a member of FINRA and SIPC and is not affiliated with NewBridge on the Charles or Hebrew Senior Life.