Published on 5/25/2012 in the Prospect News Municipals Daily.
New Issue: Alaska Housing Finance prices $195.89 million mortgage revenue bonds
By Sheri Kasprzak
New York, May 25 - The Alaska Housing Finance Corp. sold $195.89 million of series 2012 general mortgage revenue bonds, according to a pricing sheet.
The deal included $145.89 million of series 2012A bonds and $50 million of series 2012B taxable variable-rate bonds.
The 2012A bonds are due 2012 to 2024 with term bonds due in 2027, 2032, 2037 and 2040. The serial coupons range from 0.35% to 3.25%. The 2027 bonds have a 3.5% coupon priced at 98.823. The 2032 bonds have a 4% coupon priced at par and the 2037 bonds have a 4.125% coupon priced 98.066. The 2040 bonds have a split maturity with a 4% coupon priced at 106 and a 4.25% coupon priced at 99.18.
The 2012B bonds are due Dec. 1, 2042, and bear interest at the weekly rate.
Bank of America Merrill Lynch was the senior manager for the 2012A bonds and the sole underwriter for the 2012B bonds. The co-managers for the 2012A bonds were Edward D. Jones & Co. LP, George K. Baum & Co., J.P. Morgan Securities LLC, KeyBanc Capital Markets LLC, Raymond James/Morgan Keegan, Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC.
Proceeds will be used to make mortgage loans and refund debt
| Issuer: | Alaska Housing Finance Corp.
|
| Issue: | Series 2012 general mortgage revenue bonds
|
| Amount: | $195.89 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead for 2012A, sole for 2012B), Edward D. Jones & Co. LP, George K. Baum & Co., J.P. Morgan Securities LLC, KeyBanc Capital Markets LLC, Raymond James/Morgan Keegan, Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC (co-managers for 2012B)
|
| Pricing date: | May 24
|
| Settlement date: | July 11
|
|
|
| $145.89 million series 2012A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $235,000 | 2012 | Serial | 0.35% | 100
|
| $1,445,000 | 2013 | Serial | 0.40% | 100
|
| $1.48 million | 2013 | Serial | 0.50% | 100
|
| $1.52 million | 2014 | Serial | 0.60% | 100
|
| $1.56 million | 2014 | Serial | 0.80% | 100
|
| $1.6 million | 2015 | Serial | 0.95% | 100
|
| $1.64 million | 2015 | Serial | 1.05% | 100
|
| $1.68 million | 2016 | Serial | 1.15% | 100
|
| $1,725,000 | 2016 | Serial | 1.30% | 100
|
| $1,765,000 | 2017 | Serial | 1.50% | 100
|
| $1.81 million | 2017 | Serial | 1.65% | 99.742
|
| $1.86 million | 2018 | Serial | 1.85% | 100
|
| $1,905,000 | 2018 | Serial | 1.95% | 99.7
|
| $1,955,000 | 2019 | Serial | 2.125% | 100
|
| $2,005,000 | 2019 | Serial | 2.25% | 100
|
| $2,055,000 | 2020 | Serial | 2.5% | 100
|
| $2,105,000 | 2020 | Serial | 2.5% | 100
|
| $2.16 million | 2021 | Serial | 2.875% | 100
|
| $2,215,000 | 2021 | Serial | 2.875% | 100
|
| $2,275,000 | 2022 | Serial | 3% | 99.828
|
| $2.33 million | 2022 | Serial | 3% | 99.82
|
| $2.39 million | 2023 | Serial | 3.125% | 99.768
|
| $2.45 million | 2023 | Serial | 3.125% | 99.76
|
| $2,515,000 | 2024 | Serial | 3.25% | 99.509
|
| $2,575,000 | 2024 | Serial | 3.25% | 99.492
|
| $16.9 million | 2027 | Term | 3.5% | 98.823
|
| $29.68 million | 2032 | Term | 4% | 100
|
| $24,035,000 | 2037 | Term | 4.125% | 98.066
|
| $21,645,000 | 2040 | Term | 4% | 106
|
| $6,375,000 | 2040 | Term | 4.25% | 99.18
|
|
|
| $50 million series 2012B taxable variable-rate bonds
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2042 | Term | Weekly | 100
|
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