S.D. Housing Development to sell $100 million mortgage bonds Wednesday

By Cristal Cody

Springdale, Ark., July 22 - The South Dakota Housing Development Authority expects to price its previously announced $100 million homeownership mortgage bonds on Wednesday, a source told Prospect News.

The bonds (Aa1/AAA/) also were sold through retail orders on Tuesday.

The $18.615 million series 2008D bonds have serial maturities from 2009 through 2019.

The $47.385 million series 2008E bonds have term maturities in 2023, 2027 and 2038.

The $34 million series 2008F bonds are due in 2039.

Citigroup Global Markets is the senior manager of the negotiated sale. Co-managers are Merrill Lynch & Co., JPMorgan and Wells Fargo Brokerage Services LLC.

Proceeds will be used to make or purchase single-family mortgage loans and to make deposits to various funds and accounts.

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