By Sheri Kasprzak
New York, April 7 - The Florida Housing Finance Corp. priced $50 million in series 2008 homeowner mortgage revenue bonds on Thursday, a final official statement said Monday.
The serial bonds (Aa1/AA+/AA+) are due 2010 to 2018 with term bonds due 2023, 2028, 2039 and 2039.
The serial bonds have coupons from 3.8% to 5.15%, all priced at par.
The 2023 bonds have a 5.45% coupon, the 2028 bonds have a 5.8% coupon, the 2039 bonds have a 6.45% coupon and the 2039 bonds have a 6% coupon. All of the term bonds are also priced at par.
The bonds were sold on a negotiated basis with RBC Capital Markets as the lead manager. The co-managers are Bear, Stearns & Co., Citigroup Global Markets and UBS Investment Bank.
Proceeds will be used to replace or refund previous bonds.
| Issuer: | Florida Housing Finance Corp.
|
| Issue: | Series 2008 homeowner mortgage revenue bonds
|
| Amount: | $50 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets (lead); Bear, Stearns & Co.; Citigroup Global Markets; UBS Investment Bank
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | April 3
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3.8% | 3.80%
|
| 2011 | Serial | 4% | 4.00%
|
| 2012 | Serial | 4.3% | 4.30%
|
| 2013 | Serial | 4.45% | 4.45%
|
| 2014 | Serial | 4.55% | 4.55%
|
| 2015 | Serial | 4.8% | 4.80%
|
| 2016 | Serial | 5.0% | 5.00%
|
| 2017 | Serial | 5.05% | 5.05%
|
| 2018 | Serial | 5.15% | 5.15%
|
| 2023 | Term | 5.45% | 5.45%
|
| 2028 | Term | 5.8% | 5.80%
|
| 2039 | Term | 6.45% | 6.45%
|
| 2039 | Term | 6% | 6.00%
|
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