By Sheri Kasprzak
New York, Nov. 12 - The Florida Housing Finance Corp. priced $100 million in series 2008-4 homeowner mortgage revenue bonds Wednesday, said Barbara Goltz, the corporation's chief financial officer.
The bonds (Aa1/AA+/AA+) were sold through lead manager J.P. Morgan Securities Inc. Co-managers were Citigroup Global Markets and RBC Capital Markets.
The bonds are due 2010 to 2020 with term bonds due 2023, 2028, 2033 and 2038. The coupons on the serials ranged from 3.5% to 5.625%, all priced at par. The 2023 bonds have a 5.875% coupon, and the 2028 bonds have a 6% coupon. The 2033 bonds have a 6.125% coupon, and the 2038 bonds have a 6.25% coupon. All of the term bonds are also priced at par.
The bonds feature an optional call in 2018 at par.
Proceeds will be used for a portion of the corporation's housing loans.
| Issuer: | Florida Housing Finance Corp.
|
| Issue: | Series 2008-4 homeowner mortgage revenue bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Call: | 2018 at par
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Citigroup Global Markets and RBC Capital Markets (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | Nov. 12
|
|
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 3.5% | Par
|
| 2011 | Serial | 3.75% | Par
|
| 2011 | Serial | 3.875% | Par
|
| 2012 | Serial | 4.125% | Par
|
| 2012 | Serial | 4.25% | Par
|
| 2013 | Serial | 4.3% | Par
|
| 2013 | Serial | 4.375% | Par
|
| 2014 | Serial | 4.625% | Par
|
| 2015 | Serial | 4.875% | Par
|
| 2016 | Serial | 5% | Par
|
| 2017 | Serial | 5.125% | Par
|
| 2018 | Serial | 5.25% | Par
|
| 2019 | Serial | 5.5% | Par
|
| 2020 | Serial | 5.625% | Par
|
| 2023 | Term | 5.875% | Par
|
| 2028 | Term | 6% | Par
|
| 2033 | Term | 6.125% | Par
|
| 2038 | Term | 6.25% | Par
|
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