Florida Housing plans $88.845 million sale of mortgage revenue bonds

By Sheri Kasprzak

New York, March 7 - Florida Housing Finance Corp. is set to bring $88.845 million of series 2011 homeowner mortgage revenue bonds, said a preliminary official statement.

The offering included $51.69 million of series 2011-1 AMT bonds, $27.155 million of series 2011-2 non-AMT bonds and $10 million of series 2011-3 non-AMT bonds.

The bonds will be sold with Citigroup Global Markets Inc. as the lead manager. The co-managers are Morgan Stanley & Co. Inc.; RBC Capital Markets LLC; Bank of America Merrill Lynch; George K. Baum & Co.; Janney Montgomery Scott LLC; and Morgan Keegan & Co. Inc.

The 2011-1 bonds are due 2011 to 2019 with a term bond due July 1, 2041. The 2011-2 bonds are due 2019 to 2022 with a term bond due July 1, 2025, and the 2011-3 bonds are due Jan. 1, 2027.

Proceeds will be used to fund mortgage loans as well as refund existing debt.

Based in Tallahassee, the authority provides mortgage loans to low- to moderate-income Floridians.

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