United Methodist Village Retirement Communities, Inc. Announces Acceptance for Purchase of Certain Bonds Issued by the Village of Godfrey, Illinois on behalf of United Methodist Village Retirement Communities, Inc.

GODFREY, Ill., Oct. 22, 2012 /PRNewswire/ -- United Methodist Village Retirement Communities, Inc. (the "Institution") today announced that it has accepted to purchase for cash the outstanding Revenue Bonds (United Methodist Village – Godfrey Project), Series 1999A (the "Series 1999 Bonds") issued by the Village of Godfrey, Illinois (the "Issuer") pursuant to the Indenture of Trust dated as of January 15, 1999 (the "Indenture") between the Issuer and UMB Bank, N.A., as Trustee (the "Trustee") shown below: 


Maturity

CUSIP No. [1]

Outstanding
Principal Amount
(as of October 22, 2012)

Principal Amount Tendered
and Accepted for Purchase

11/15/21

380299 AL1

$  7,255,000

$  5,114,000

11/15/29

380299 AM9

$11,325,000

$  8,485,000

The Series 1999 Bonds were subject to an offer to purchase for cash and the solicitation of consents with respect to certain amendments (the "Offer and Consent Solicitation"), the terms and conditions of which were set forth in the Offer to Purchase for Cash and Solicitation of Consents dated August 20, 2012 (the "Offer to Purchase and Consent Solicitation").  The Offer, as extended, expired at 5:00 p.m. Eastern time on October 19, 2012 (the "Expiration Time"). 

The consideration to be paid for each tendered Series 1999 Bond will be paid in the amounts and in accordance with the terms set forth in the Offer to Purchase and Consent Solicitation on the settlement date, which is expected to be October 30, 2012.  

B.C. Ziegler & Company acted as the dealer manager for Offer. 

D.F. King & Co., Inc. acted as the information agent and tender agent for the Offer.

This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to purchase with respect to any Series 1999 Bonds. 

About United Methodist Village Retirement Communities, Inc.

The Institution is a nonprofit corporation organized and existing under the laws of the State of Illinois that owns and operates a retirement community in Godfrey, Illinois.

Forward-Looking Statements

Forward-looking statements in this press release, such as the settlement date of the purchase of the tendered Series 1999 Bonds, are based on current expectations.  This press release contains forward-looking statements that involve a variety of business risks and other uncertainties that could cause actual results to differ materially.  Words such as "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements.  These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict.  Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate.  Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements.  Forward-looking statements speak only as of the date made.  There is no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made.  As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included in this release or that may be made elsewhere from time to time by, or on behalf of, the Institution.

[1] CUSIP is a registered trademark of American Bankers Association.  Neither the Institution nor the Dealer Manager makes any representation as to, or takes responsibility for, the accuracy of such CUSIP numbers.  CUSIP numbers are provided for convenience of reference only.

SOURCE United Methodist Village Retirement Communities, Inc.




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