By Sheri Kasprzak
New York, Sept. 10 - Kentucky Housing Corp. priced $70 million in series 2008E and 2008F revenue bonds on Wednesday, said Walter Clare, the corporation's senior director for financial management.
The sale included $60 million in series 2008E bonds and $10 million in series 2008F bonds.
The 2008E bonds are due from 2010 to 2018 with term bonds due 2023, 2028, 2033 and 2038. The serials have coupons from 2.35% to 4.15%, all priced at par. The 2023 bonds have a 4.875% coupon, the 2028 bonds a 5.125% coupon, the 2033 bonds have a 5.375% coupon and the 2038 bonds have a 5.45% coupon.
The 2008F bonds are due 2037 with a 5.625% coupon to yield 5.25%.
The bonds (Aaa/AAA/) were sold through senior managers Merrill Lynch and Citigroup Global Markets with J.J.B. Hilliard, W.L. Lyons; NatCity Investments; Morgan Keegan; Wachovia Bank; J.P. Morgan Securities Inc.; Edward Jones; First Kentucky Securities; and Ross, Sinclaire & Associates as co-managers.
Proceeds will be used to purchase mortgage loans and to make a deposit to a debt service reserve fund.
| Issuer: | Kentucky Housing Corp.
|
| Issue: | Revenue bonds
|
| Amount: | $70 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch and Citigroup Global Markets (leads); J.J.B. Hilliard, W.L. Lyons; NatCity Investments; Morgan Keegan; Wachovia Bank; J.P. Morgan Securities Inc.; Edward Jones; First Kentucky Securities; and Ross, Sinclaire & Associates
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Sept. 10
|
|
|
| Series 2008E bonds
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2.35% | Par
|
| 2010 | Serial | 2.45% | Par
|
| 2011 | Serial | 2.75% | Par
|
| 2011 | Serial | 2.85% | Par
|
| 2012 | Serial | 3.05% | Par
|
| 2012 | Serial | 3.10% | Par
|
| 2013 | Serial | 3.30% | Par
|
| 2013 | Serial | 3.30% | Par
|
| 2014 | Serial | 3.60% | Par
|
| 2014 | Serial | 3.60% | Par
|
| 2015 | Serial | 3.80% | Par
|
| 2015 | Serial | 3.80% | Par
|
| 2016 | Serial | 3.95% | Par
|
| 2016 | Serial | 3.95% | Par
|
| 2017 | Serial | 4.10% | Par
|
| 2018 | Serial | 4.15% | Par
|
| 2018 | Serial | 4.15% | Par
|
| 2023 | Term | 4.875% | Par
|
| 2028 | Term | 5.125% | Par
|
| 2033 | Term | 5.375% | Par
|
| 2038 | Term | 5.45% | Par
|
|
|
| Series 2008F bonds
|
| Maturity | Type | Coupon | Yield
|
| 2037 | Term | 5.625% | 5.25%
|
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