Published on 12/13/2012 in the Prospect News Municipals Daily.
New Issue: Connecticut Housing prices $79.32 million of 2012G mortgage finance program bonds
By Sheri Kasprzak
New York, Dec. 13 - The Connecticut Housing Finance Authority sold $79,315,000 of series 2012G housing mortgage finance program bonds, according to a pricing sheet.
The offering included $43.88 million of series 2012G-1 bonds, $6,015,000 of series 2012G-2 bonds, $3.7 million of series 2012G-3 taxable bonds, $10 million of series 2012G-4 bonds and $15.72 million of series 2012G-5 variable-rate bonds.
The 2012G-1 bonds are due 2013 to 2020 with term bonds due in 2022, 2027, 2032, 2037, 2042, 2047 and 2055. The serial coupons range from 0.25% to 1.9%. The 2022 bonds have a split maturity, both with 2.25% coupons and priced at par. The 2027 bonds have a 2.85% coupon, the 2032 bonds have a 3.15% coupon and the 2037 bonds have a 3.45% coupon. The 2042 bonds have a 3.5% coupon, the 2047 bonds have a 3.65% coupon and the 2055 bonds have a 3.75% coupon.
The 2012G-2 bonds are due 2022, 2027, 2032, 2037 and 2045. The 2022 bonds have a 2.7% coupon and the 2027 bonds have a 3.25% coupon. The 2032 bonds have a 3.55% coupon and the 2037 bonds have a 3.85% coupon. The 2045 bonds have a 4% coupon. All the bonds are priced at par.
The 2012G-3 bonds are due 2013 to 2022 with coupons from 0.3% to 2.5%, all priced at par.
The 2012G-4 bonds are due in 2030 with a 3.05% coupon priced at par.
The 2012G-5 bonds are due May 15, 2041, and bear interest at the weekly rate.
The bonds (Aaa/AAA/AAA) were sold on a negotiated basis. The senior managers for the 2012G-1 through 2012G-4 bonds were Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. Bank of America Merrill Lynch was the senior manager for the series 2012G-5 bonds.
Proceeds will be used to finance mortgage loans.
| Issuer: | Connecticut Housing Finance Authority
|
| Issue: | Series 2012G housing mortgage finance program bonds
|
| Amount: | $79,315,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead for 2012G-1 through 2012G-4 bonds), Bank of America Merrill Lynch (lead for 2012G-5 bonds), Barclays Capital Inc., Goldman, Sachs & Co., Jefferies & Co., Janney Montgomery Scott LLC, 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 for 2012G-1 through 2012G-4 bonds)
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 18
|
|
|
| $43.88 million series 2012G-1 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $175,000 | 2013 | Serial | 0.25% | 100
|
| $175,000 | 2014 | Serial | 0.35% | 100
|
| $175,000 | 2014 | Serial | 0.45% | 100
|
| $180,000 | 2015 | Serial | 0.60% | 100
|
| $190,000 | 2015 | Serial | 0.70% | 100
|
| $200,000 | 2016 | Serial | 0.80% | 100
|
| $200,000 | 2016 | Serial | 0.90% | 100
|
| $210,000 | 2017 | Serial | 1.10% | 100
|
| $215,000 | 2017 | Serial | 1.15% | 100
|
| $220,000 | 2018 | Serial | 1.35% | 100
|
| $230,000 | 2018 | Serial | 1.40% | 100
|
| $235,000 | 2019 | Serial | 1.55% | 100
|
| $240,000 | 2019 | Serial | 1.60% | 100
|
| $250,000 | 2020 | Serial | 1.85% | 100
|
| $255,000 | 2020 | Serial | 1.90% | 100
|
| $280,000 | 2022 | Term | 2.25% | 100
|
| $290,000 | 2022 | Term | 2.25% | 100
|
| $3,385,000 | 2027 | Term | 2.85% | 100
|
| $4.54 million | 2032 | Term | 3.15% | 100
|
| $6.08 million | 2037 | Term | 3.45% | 100
|
| $8.14 million | 2042 | Term | 3.50% | 100
|
| $7.31 million | 2047 | Term | 3.65% | 100
|
| $10,705,000 | 2055 | Term | 3.75% | 97.905
|
|
|
| $6,015,000 series 2012G-2 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $165,000 | 2022 | Term | 2.7% | 100
|
| $755,000 | 2027 | Term | 3.25% | 100
|
| $995,000 | 2032 | Term | 3.55% | 100
|
| $1.31 million | 2037 | Term | 3.85% | 100
|
| $2.79 million | 2045 | Term | 4% | 100
|
|
|
| $3.7 million series 2012G-3 taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $195,000 | 2013 | Serial | 0.30% | 100
|
| $220,000 | 2014 | Serial | 0.40% | 100
|
| $995,000 | 2015 | Serial | 0.60% | 100
|
| $270,000 | 2016 | Serial | 0.90% | 100
|
| $300,000 | 2017 | Serial | 1.00% | 100
|
| $335,000 | 2018 | Serial | 1.25% | 100
|
| $295,000 | 2019 | Serial | 1.80% | 100
|
| $315,000 | 2020 | Serial | 2.05% | 100
|
| $360,000 | 2021 | Serial | 2.375% | 100
|
| $415,000 | 2022 | Serial | 2.50% | 100
|
|
|
| $10 million series 2012G-4 bonds
|
| Maturity | Type | Coupon | Price
|
| 2030 | Term | 3.05% | 100
|
|
|
| $15.72 million series 2012G-5 variable-rate bonds
|
| Maturity | Type | Coupon | Price
|
| May 15, 2041 | Term | Weekly | 100
|
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