Published on 6/7/2012 in the Prospect News Municipals Daily.
New Issue: Kentucky Housing brings $187.76 million of taxable revenue bonds
By Sheri Kasprzak
New York, June 7 - The Kentucky Housing Corp. sold $187,755,000 of series 2012A taxable housing revenue bonds, said a term sheet.
The bonds (Aaa) were sold through Citigroup Global Markets Inc. and Bank of America Merrill Lynch. The co-managers were J.J.B. Hilliard, W.L. Lyons LLC; PNC Capital Markets LLC; Raymond James/Morgan Keegan; Stifel, Nicolaus & Co. Inc.; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Sterne, Agee & Leach Inc.; and Ross, Sinclaire & Associates Inc.
The bonds are due 2013 to 2022 with 0.5% to 3.618% coupons, all priced at par. The deal also includes term bonds due in 2028 and 2033. The 2028 bonds have a 4.268% coupon priced at par and the 2033 bonds have a 4.25% coupon priced at 113.84.
Proceeds will be used to finance mortgage loans.
| Issuer: | Kentucky Housing Corp.
|
| Issue: | Series 2012A taxable housing revenue bonds
|
| Amount: | $187,755,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Bank of America Merrill Lynch (lead); J.J.B. Hilliard, W.L. Lyons LLC; PNC Capital Markets LLC; Raymond James/Morgan Keegan; Stifel, Nicolaus & Co. Inc.; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Sterne, Agee & Leach Inc.; and Ross, Sinclaire & Associates Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Pricing date: | June 7
|
| Settlement date: | June 27
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.65 million | 2013 | Serial | 0.5% | 100
|
| $3.58 million | 2013 | Serial | 0.53% | 100
|
| $3.7 million | 2014 | Serial | 0.54% | 100
|
| $3,755,000 | 2014 | Serial | 0.75% | 100
|
| $3,835,000 | 2015 | Serial | 1.336% | 100
|
| $4,595,000 | 2015 | Serial | 1.436% | 100
|
| $4.67 million | 2016 | Serial | 1.679% | 100
|
| $4,775,000 | 2016 | Serial | 1.779% | 100
|
| $4.84 million | 2017 | Serial | 1.879% | 100
|
| $4,935,000 | 2017 | Serial | 2.029% | 100
|
| $5,035,000 | 2018 | Serial | 2.34% | 100
|
| $5.11 million | 2018 | Serial | 2.49% | 100
|
| $5,215,000 | 2019 | Serial | 2.69% | 100
|
| $5,315,000 | 2019 | Serial | 2.89% | 100
|
| $5,395,000 | 2020 | Serial | 3.168% | 100
|
| $5,485,000 | 2020 | Serial | 3.268% | 100
|
| $5.59 million | 2021 | Serial | 3.368% | 100
|
| $5,705,000 | 2021 | Serial | 3.468% | 100
|
| $5,805,000 | 2022 | Serial | 3.568% | 100
|
| $4.78 million | 2022 | Serial | 3.618% | 100
|
| $41.73 million | 2028 | Term | 4.268% | 100
|
| $50,255,000 | 2033 | Term | 4.25% | 113.84
|
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