Connecticut Housing to offer $112.8 million housing mortgage bonds

By Sheri Kasprzak

New York, Dec. 1 - The Connecticut Housing Finance Authority is set to sell $112.8 million of series 2011E housing mortgage finance program bonds, according to a preliminary official statement.

The offering includes $25 million of series 2011E-1 bonds, $15.8 million of series 2011E-2 bonds, $52 million of series 2011E-3 variable-rate bonds and $20 million of series 2011E-4 AMT variable-rate bonds.

The bonds will be sold on a negotiated basis.

The senior managers for the 2011E-1 and 2011E-2 bonds are Bank of America Merrill Lynch and Goldman Sachs & Co. The sole underwriter for the 2011E-3 bonds is Morgan Stanley & Co. LLC. The sole underwriter for the 2011E-4 bonds is J.P. Morgan Securities LLC.

The co-managers for the 2011E-1 and 2011E-2 bonds are Barclays Capital Inc.; Citigroup Global Markets Inc.; Grigsby & Associates Inc.; Janney Montgomery Scott LLC; Jefferies & Co.; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; and Wells Fargo Securities LLC.

The 2011E-1 bonds are due 2012 to 2017 with a term bond due in 2031. The 2011E-2 bonds are due Nov. 15, 2041. The 2011E-3 bonds are due Nov. 15, 2041, and the 2011E-4 bonds are due Nov. 15, 2031.

Proceeds will be used to refund existing debt and fund mortgage loans.

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