Published on 11/21/2012 in the Prospect News Municipals Daily.
New Issue: Connecticut Housing Finance brings $145.27 million of mortgage bonds
By Sheri Kasprzak
New York, Nov. 21 - The Connecticut Housing Finance Authority sold $145.27 million of series 2012F housing mortgage program bonds, according to a pricing sheet.
The bonds were sold through J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Bank of America Merrill Lynch and Citigroup Global Markets Inc.
The deal included $102.64 million of series 2012F-1 non-AMT bonds and $42.63 million of series 2012F-2 AMT bonds.
The 2012F-1 bonds are due 2014 to 2024 with term bonds due in 2027, 2032, 2037 and 2042. The serial coupons range from 0.35% to 2.5%, all priced at par. The 2027 bonds have a 2.7% coupon priced at par and the 2032 bonds have a 3% coupon priced at par. The 2037 bonds have a 3.3% coupon priced at par and the 2042 bonds have a 3.4% coupon priced at par.
The 2012F-2 bonds are due 2013 to 2014 with a term bond due in 2035. The serial coupons range from 0.25% to 0.70%, all priced at par. The 2035 bonds have a 2.75% coupon priced at par.
Proceeds will be used to make mortgage loans to qualified Connecticut residents.
| Issuer: | Connecticut Housing Finance Authority
|
| Issue: | Series 2012F housing mortgage program bonds
|
| Amount: | $145.27 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Bank of America Merrill Lynch and Citigroup Global Markets Inc. (lead), Barclays, Grigsby & Associates Inc., Janney Montgomery Scott LLC, Jefferies & Co., M.R. Beal & Co. Inc., Raymond James/Morgan Keegan, Ramirez & Co. Inc., Rice Financial Products Co., Roosevelt & Cross Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's Aaa
|
| Pricing date: | Nov. 21
|
| Settlement date: | Dec. 11
|
|
|
| $102.64 million series 2012F-1 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $665,000 | 2014 | Serial | 0.35% | 100
|
| $1.35 million | 2014 | Serial | 0.45% | 100
|
| $1,725,000 | 2015 | Serial | 0.60% | 100
|
| $1.76 million | 2015 | Serial | 0.75% | 100
|
| $1.79 million | 2016 | Serial | 0.90% | 100
|
| $1,825,000 | 2016 | Serial | 0.95% | 100
|
| $1,855,000 | 2017 | Serial | 1.10% | 100
|
| $1.89 million | 2017 | Serial | 1.15% | 100
|
| $1.92 million | 2018 | Serial | 1.40% | 100
|
| $1.96 million | 2018 | Serial | 1.45% | 100
|
| $1,995,000 | 2019 | Serial | 1.60% | 100
|
| $2,035,000 | 2019 | Serial | 1.65% | 100
|
| $2.07 million | 2020 | Serial | 1.85% | 100
|
| $2,115,000 | 2020 | Serial | 1.90% | 100
|
| $2.15 million | 2021 | Serial | 2.05% | 100
|
| $2.19 million | 2021 | Serial | 2.10% | 100
|
| $2.23 million | 2022 | Serial | 2.30% | 100
|
| $2.27 million | 2022 | Serial | 2.30% | 100
|
| $2.31 million | 2023 | Serial | 2.45% | 100
|
| $2.35 million | 2023 | Serial | 2.45% | 100
|
| $2,335,000 | 2024 | Serial | 2.50% | 100
|
| $12.23 million | 2027 | Term | 2.70% | 100
|
| $17.27 million | 2032 | Term | 3.00% | 100
|
| $15,305,000 | 2037 | Term | 3.30% | 100
|
| $17,045,000 | 2042 | Term | 3.40% | 100
|
|
|
| $42.63 million series 2012F-2 AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $315,000 | 2013 | Serial | 0.25% | 100
|
| $370,000 | 2013 | Serial | 0.45% | 100
|
| $960,000 | 2013 | Serial | 0.50% | 100
|
| $1,005,000 | 2014 | Serial | 0.60% | 100
|
| $345,000 | 2014 | Serial | 0.70% | 100
|
| $39,635,000 | 2035 | Term | 2.75% | 100
|
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