Published on 5/4/2012 in the Prospect News Municipals Daily.
New Issue: Connecticut Housing Finance sells $168.38 million of housing mortgage finance bonds
By Sheri Kasprzak
New York, May 4 - The Connecticut Housing Finance Authority sold $168.38 million of series 2012A housing mortgage finance program bonds, said a pricing sheet.
The bonds (Aaa/AAA/) were sold through J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC. The co-managers were Barclays Capital Inc., Goldman Sachs & Co., Grigsby & Associates Inc., Janney Montgomery Scott LLC, Jefferies & Co., M.R. Beal & Co., Raymond James/Morgan Keegan, Ramirez & Co. Inc., Rice Financial Products Co., Roosevelt & Cross Inc., and Wells Fargo Securities LLC.
The bonds are due 2012 to 2023 with a term bond due in 2032. The serial coupons range from 0.17% to 2.95% and all priced at par. The 2032 bonds have a 3.55% coupon and priced at par.
Proceeds will be used to make single-family housing mortgages.
| Issuer: | Connecticut Housing Finance Authority
|
| Issue: | Series 2012A housing mortgage finance program bonds
|
| Amount: | $168.38 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (lead); Barclays Capital Inc., Goldman Sachs & Co., Grigsby & Associates Inc., Janney Montgomery Scott LLC, Jefferies & Co., M.R. Beal & Co., Raymond James/Morgan Keegan, Ramirez & Co. Inc., Rice Financial Products Co., Roosevelt & Cross Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | May 3
|
| Settlement date: | May 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.16 million | 2012 | Serial | 0.17% | 100
|
| $5.25 million | 2013 | Serial | 0.22% | 100
|
| $5.36 million | 2013 | Serial | 0.47% | 100
|
| $5,465,000 | 2014 | Serial | 0.55% | 100
|
| $5.57 million | 2014 | Serial | 0.65% | 100
|
| $5.7 million | 2015 | Serial | 0.95% | 100
|
| $5,815,000 | 2015 | Serial | 1.05% | 100
|
| $5,935,000 | 2016 | Serial | 1.25% | 100
|
| $6,065,000 | 2016 | Serial | 1.30% | 100
|
| $6.2 million | 2017 | Serial | 1.50% | 100
|
| $6,335,000 | 2017 | Serial | 1.60% | 100
|
| $6.49 million | 2018 | Serial | 1.80% | 100
|
| $6.64 million | 2018 | Serial | 1.90% | 100
|
| $6,785,000 | 2019 | Serial | 2.05% | 100
|
| $6,955,000 | 2019 | Serial | 2.15% | 100
|
| $7.14 million | 2020 | Serial | 2.35% | 100
|
| $7.3 million | 2020 | Serial | 2.40% | 100
|
| $7,495,000 | 2021 | Serial | 2.60% | 100
|
| $7,665,000 | 2021 | Serial | 2.60% | 100
|
| $7,865,000 | 2022 | Serial | 2.75% | 100
|
| $8,055,000 | 2022 | Serial | 2.80% | 100
|
| $8,265,000 | 2023 | Serial | 2.95% | 100
|
| $8.46 million | 2023 | Serial | 2.95% | 100
|
| $16.41 million | 2032 | Term | 3.55% | 100
|
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