Maine State Housing to sell $51.68 million mortgage purchase bonds

By Sheri Kasprzak

New York, Oct. 27 - The Maine State Housing Authority plans to price $51.68 million in series 2010 mortgage purchase bonds, according to a preliminary official statement.

The offering includes $8.75 million in series 2010B-1 non-AMT bonds, $9.495 million in series 2010B-2 non-AMT bonds and $33.435 million in series 2010B-3 AMT bonds.

The bonds will be sold on a negotiated basis with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the senior managers. The co-managers are Bank of America Merrill Lynch, Morgan Stanley & Co. Inc. and RBC Capital Markets Corp.

The 2010B-1 bonds are due 2013 to 2017, and the 2010B-2 bonds are due 2025. The 2010B-3 bonds are due 2012 to 2021.

Proceeds will be used to make mortgage loans.

Based in Augusta, Maine, the authority provides affordable housing loans to low- to moderate-income homebuyers.

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