By Cristal Cody
Springdale, Ark., Feb. 20 - Nebraska Investment Finance Authority revealed the details Wednesday of the $50 million fixed-rate and floating rate bonds it priced with coupons from 2.5% to 5.5%.
The authority sold $25 million in series 2008A fixed rate single family housing revenue bonds with coupons from 2.5% in 2009 to 4.45% in 2018, according to the final pricing wire. The 2028 term bond priced with a 5.375% coupon, and the 2039 term bond priced with a 5.5% coupon.
The initial rate probably will not be set on the variable rate bonds until closing Feb. 28, said Steve Clements, chief operating officer for the finance authority.
Lehman Brothers handled the negotiated sale, with co-managers Ameritas Investment Corp., Citigroup Global Markets and D.A. Davidson & Co.
Proceeds will be used to refund prior series bonds and to purchase and finance mortgage loans and mortgage-backed securities in Nebraska.
| Issuer: | Nebraska Investment Finance Authority
|
| Type: | Negotiated
|
| Amount: | $50 million
|
| Series 2008A fixed-rate bonds, $25 million
|
| Series 2008B floating-rate bonds, $25 million
|
| Maturities: | 2009 to 2018; term bonds 2028 and 2039
|
| Underwriter: | Lehman Brothers (lead)
|
| Ratings: | S&P: AAA
|
| Pricing date: | Feb. 14
|
| Price: | Par
|
| Coupons:
|
| 2009: | 2.5%
|
| 2010: | 2.8%
|
| 2011: | 3.15%
|
| 2012: | 3.40%
|
| 2013: | 3.625%
|
| 2014: | 3.855
|
| 2015: | 4.05%
|
| 2016: | 4.2%
|
| 2017: | 4.35%
|
| 2018: | 4.45%
|
| 2028: | 5.375%
|
| 2039: | 5.5%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
