By Sheri Kasprzak
New York, July 13 - The Kentucky Housing Corp. sold $116 million in series 2010 housing revenue bonds on Tuesday, according to a pricing sheet.
The offering included $40 million in series 2010B non-AMT bonds, $10 million in series 2010C non-AMT bonds, $46 million in series 2010D AMT bonds and $20 million in series 2010E non-AMT bonds.
The 2010B bonds are due 2011 to 2022 with term bonds due 2024 and 2027. The coupons range from 0.5% to 3.95%, all priced at par. The 2024 bonds have a 4.05% coupon priced at par, and the 2027 bonds have a 5% coupon, also priced at par.
The 2010C bonds are due 2027 and 2033. The 2027 bonds have a 4.375% coupon priced at par, and the 2033 bonds have a 4.625% coupon priced at par.
The 2010D bonds are due 2015 to 2020 with term bonds due 2025 and 2027. Coupons range from 3.05% to 4.4%, all priced at par. The 2025 bonds have a 5.125% coupon priced at par. The 2027 bonds have a 5.25% coupon priced at par.
The 2010E bonds are due 2020, 2022, 2023, 2030 and 2035. The 2020 bonds have a 3.625% coupon, the 2022 bonds have a 3.95% coupon and the 2023 bonds have a 4% coupon priced at par. The 2030 bonds have a 4.5% coupon priced at par. The 2035 bonds have a 4.75% coupon priced at par.
Bank of America Merrill Lynch and Citigroup Global Markets Inc. were the senior managers. The co-managers were J.J.B. Hilliard, W.L. Lyons LLC; Morgan Keegan & Co. Inc.; PNC Capital Markets LLC; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co. Inc.; Ross, Sinclaire & Associates Inc.; and Sterne, Agee & Leach Inc.
Proceeds will be used to fund mortgage loans, as well as to refund the corporation's series 2000 bonds.
Issuer: | Kentucky Housing Corp.
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Issue: | Series 2010 housing revenue bonds
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Amount: | $116 million
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Type: | Negotiated
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Underwriters: | Bank of America Merrill Lynch and Citigroup Global Markets Inc. (lead); J.J.B. Hilliard, W.L. Lyons LLC; Morgan Keegan & Co. Inc.; PNC Capital Markets LLC; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co. Inc.; Ross, Sinclaire & Associates Inc.; and Sterne, Agee & Leach Inc. (co-managers)
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Pricing date: | July 13
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Settlement date: | Aug. 12
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Series 2010B
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Maturity | Type | Coupon | Price
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2011 | Serial | 0.5% | 100
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2011 | Serial | 0.6% | 100
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2012 | Serial | 0.8% | 100
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2012 | Serial | 0.9% | 100
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2013 | Serial | 1.35% | 100
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2013 | Serial | 1.45% | 100
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2014 | Serial | 1.75% | 100
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2014 | Serial | 1.875% | 100
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2015 | Serial | 2.2% | 100
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2015 | Serial | 2.3% | 100
|
2016 | Serial | 2.55% | 100
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2016 | Serial | 2.65% | 100
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2017 | Serial | 2.85% | 100
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2017 | Serial | 2.95% | 100
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2018 | Serial | 3.2% | 100
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2018 | Serial | 3.2% | 100
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2019 | Serial | 3.45% | 100
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2019 | Serial | 3.45% | 100
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2020 | Serial | 3.625% | 100
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2020 | Serial | 3.625% | 100
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2021 | Serial | 3.8% | 100
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2021 | Serial | 3.8% | 100
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2022 | Serial | 3.95% | 100
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2022 | Serial | 3.95% | 100
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2024 | Term | 4.05% | 100
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2027 | Term | 5% | 100
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Series 2010C
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Maturity | Type | Coupon | Price
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2027 | Term | 4.375% | 100
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2033 | Term | 4.625% | 100
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Series 2010D
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Maturity | Type | Coupon | Price
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2015 | Serial | 3.05% | 100
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2015 | Serial | 3.15% | 100
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2016 | Serial | 3.4% | 100
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2016 | Serial | 3.5% | 100
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2017 | Serial | 3.7% | 100
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2017 | Serial | 3.8% | 100
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2018 | Serial | 4% | 100
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2018 | Serial | 4% | 100
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2019 | Serial | 4.25% | 100
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2019 | Serial | 4.25% | 100
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2020 | Serial | 4.4% | 100
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2020 | Serial | 4.4% | 100
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2025 | Term | 5.125% | 100
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2027 | Serial | 5.25% | 100
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Series 2010E
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Maturity | Type | Coupon | Price
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2020 | Term | 3.625% | 100
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2022 | Term | 3.95% | 100
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2023 | Term | 4% | 100
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2030 | Term | 4.5% | 100
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2035 | Term | 4.75% | 100
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