Kentucky Housing to price $50 million series 2008 housing revenue bonds

By Sheri Kasprzak

New York, May 30 - The Kentucky Housing Corp. plans to price $50 million of series 2008C non-AMT and 2008D AMT housing revenue bonds, said a preliminary official statement released Friday.

The bonds will be sold on a negotiated basis with Merrill Lynch as the senior manager. The co-managers are J.J. Hilliard, W.L. Lyons Inc.; NatCity Investments; Morgan Keegan & Co.; Wachovia Bank; JPMorgan; Edward Jones; First Kentucky Securities; and Ross, Sinclaire & Associates.

The sale includes $14.23 million of series 2008C bonds and $35.77 million of series 2008D bonds. The 2008C bonds are due 2013 to 2017 with term bonds due 2028 and 2033. The 2008D bonds are due 2009 to 2018 with term bonds due 2023, 2038 and 2038.

Proceeds will be used for a deposit to the corporation's mortgage purchase account and a deposit to a debt service reserve fund.

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