Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Florida Housing Finance Corp. > News item |
Florida Housing buys back $3.16 million more housing guarantee bonds
By Marisa Wong
Milwaukee, Oct. 14 – Florida Housing Finance Corp. announced that it purchased an additional $3.16 million of two series of affordable housing guarantee revenue bonds through a remarketing at a purchase price equal to the principal amount, plus accrued interest up to the purchase date. Florida Housing announced its initial repurchase of these bonds on Oct. 8.
The issuer bought the bonds following a notice from their liquidity provider that commitments under the liquidity agreements were suspended in the wake of Standard & Poor’s Sept. 30 downgrade of MBIA Insurance Corp.’s rating to BB+ from BBB, as previously reported.
Originally, the bonds could be optionally tendered by holders on a weekly basis under the turst indentures. That purchase price is payable from funds drawn under the company’s liquidity facility.
Florida Housing said there have been numerous draws on the liquidity agreements to pay the purchase price of tendered bonds throughout 2009.
In the buyback, Florida Housing purchased the following:
• $895,000 of its 1993 series A bonds on Oct. 13, with $24,495,000 of the bonds held by Florida Housing, and
• $2,265,000 of its 1999 series A bonds on Oct. 13, with $30,395,000 of the bonds held by Florida Housing.
Questions may be directed to chief financial officer Barbara Goltz at 850 488-4197 or at Barbara.Goltz@floridahousing.org.
Florida Housing Finance is located in Tallahassee, Fla.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.