New Issue: Alaska Housing prices $80.88 million home mortgage revenue bonds to yield 2.45% to 5.4%

By Sheri Kasprzak

New York, Jan. 29 - Alaska Housing Finance Corp. priced $80.88 million in home mortgage revenue bonds with yields ranging from 2.45% to 5.4% on Tuesday, Michael Strand, finance officer with the corporation, said.

The bonds (Aa2/AA/AA+) priced in a serial structure from 2009 through 2018 with term bonds due Dec. 1, 2023, Dec. 1, 2028, Dec. 1, 2033 and Dec. 1, 2038, priced at par.

The bonds were priced to yield from 2.45% in the 2009 maturity to 5.4% in the 2038 maturity, Strand said.

Citigroup Global Markets was the lead manager for the negotiated deal with Bear, Stearns & Co. Inc.; Goldman, Sachs & Co.; JPMorgan; Merrill Lynch; Siebert Brandford Shank & Co., LLC; and Wachovia Securities as the co-managers.

Proceeds will be used for the purchase of qualified mortgage loans for first-time homebuyers in Alaska.

Issuer:	Alaska Housing Finance Corp.
Issue:	Home mortgage revenue bonds
Type:	Negotiated
Amount:	$80.88 million
Maturities:	2009 to 2018 (serials); 2023, 2028, 2033, 2038 (term)
Coupons:	2.54% to 5.4% (serial and term)
Price:	Par
Yields:	2.54% to 5.4%
Underwriters:	Citigroup Global Markets (lead); Bear, Stearns & Co., Goldman, Sachs & Co., JPMorgan, Merrill Lynch, Siebert Brandford Shank & Co., LLC, Wachovia Securities (co-managers)
Ratings:	Moody's: Aa2
	S&P: AA
	Fitch: AA+
Pricing date:	Jan. 29

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