New Issue: Connecticut Housing sells $66.98 million mortgage program bonds

By Sheri Kasprzak

New York, Dec. 15 - The Connecticut Housing Finance Authority priced $66.98 million of series 2011F housing mortgage program bonds on Thursday, according to a term sheet.

The offering included $34.81 million of series 2011F-1 bonds, $1.91 million of series 2011F-2 bonds and $30.26 million of series 2011F-3 bonds.

The 2011F-1 bonds are due 2012 to 2021 with term bonds due in 2026, 2031, 2041 and 2053. The serial coupons range from 0.25% to 2.90%, all priced at par. The 2026 bonds have a 3.75% coupon priced at par and the 2031 bonds have a 4.25% coupon priced at par. The 2041 bonds have a 4.625% coupon priced at par. The 2053 bonds have a 5% coupon priced at par.

The 2011F-2 bonds are due Nov. 15, 2031, and bear interest at 4.20% priced at par.

The 2011F-3 bonds are due May 15, 2041, and bear interest at 0.70% priced at par and Nov. 15, 2041, and bear interest at 0.80% priced at par.

The bonds were sold on a negotiated basis with Bank of America Merrill Lynch; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; and Morgan Stanley & Co. LLC as the senior managers for the 2011F-1 and 2011F-2 bonds. Citigroup Global Markets Inc. was the underwriter for the 2011F-3 bonds. The co-managers for the 2011F-1 and 2011F-2 bonds were Barclays Capital 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.

Proceeds will refund debt and make mortgage loans.

Issuer:	Connecticut Housing Finance Authority
Issue:	Series 2011F housing mortgage program bonds
Amount:	$66.98 million
Type:	Negotiated
Underwriters:	Bank of America Merrill Lynch; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; and Morgan Stanley & Co. LLC (lead for 2011F-1 and 2011F-2); Citigroup Global Markets Inc. (sole for 2011F-3); Barclays Capital 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 (co-managers for 2011F-1 and 2011F-2 bonds)
Pricing date:	Dec. 15
Settlement date:	Dec. 21
$34.81 million series 2011F-1 bonds
Amount	Maturity	Type	Coupon	Price
$30,000	2012	Serial	0.25%	100
$115,000	2012	Serial	0.30%	100
$130,000	2013	Serial	0.50%	100
$145,000	2013	Serial	0.65%	100
$145,000	2014	Serial	1.00%	100
$145,000	2014	Serial	1.10%	100
$160,000	2015	Serial	1.40%	100
$160,000	2015	Serial	1.50%	100
$165,000	2016	Serial	1.65%	100
$165,000	2016	Serial	1.70%	100
$175,000	2017	Serial	1.90%	100
$175,000	2017	Serial	1.90%	100
$175,000	2018	Serial	2.20%	100
$180,000	2018	Serial	2.20%	100
$190,000	2019	Serial	2.45%	100
$195,000	2019	Serial	2.45%	100
$195,000	2020	Serial	2.70%	100
$205,000	2020	Serial	2.70%	100
$205,000	2021	Serial	2.90%	100
$215,000	2021	Serial	2.90%	100
$2,145,000	2026	Term	3.75%	100
$2,875,000	2031	Term	4.25%	100
$8.95 million	2041	Term	4.625%	100
$17.57 million	2053	Term	5%	100
$1.91 million series 2011F-2 bonds
Maturity	Type	Coupon	Price
Nov. 15, 2031	Term	4.20%	100
$30.26 million series 2011F-3 bonds
Amount	Maturity	Type	Coupon	Price
$16.36 million	May 15, 2041	Term	0.70%	100
$13.9 million	Nov., 15, 2041	Term	0.80%	100

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