By Sheri Kasprzak
New York, March 16 - The Florida Housing Finance Corp. sold $100.465 million of series 2011 homeowner mortgage revenue bonds, said a pricing sheet.
The offering included $65.61 million of series 2011-1 AMT bonds, $27.155 million of series 2011-2 non-AMT bonds and $7.7 million of series 2011-3 non-AMT bonds.
The 2011-1 bonds are due 2011 to 2019 with a term bond due in 2041. The serial coupons range from 1.15% to 4.45%, all priced at par. The 2041 bonds have a 5% coupon priced at 118.434.
The 2011-2 bonds are due 2019 to 2022 with a term bond due in 2026. The serial coupons range from 3.55% to 4.25%, all priced at par. The 2026 bonds have a 5% coupon priced at par.
The 2011-3 bonds are due Jan. 1, 2027 and have a 5.05% coupon priced at par.
Citigroup Global Markets Inc. was the senior manager with 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. as the co-managers.
Proceeds will be used to fund mortgage loans and refund debt.
Based in Tallahassee, the corporation makes low-cost mortgage loans to low- to moderate-income Floridians.
| Issuer: | Florida Housing Finance Corp.
|
| Issue: | Series 2011 homeowner mortgage revenue bonds
|
| Amount: | $100.465 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead); 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. (co-managers)
|
| Pricing date: | March 16
|
| Settlement date: | March 31
|
|
|
| $65.61 million series 2011-1
|
| Amount | Maturity | Type | Coupon | Price
|
| $190,000 | 2011 | Serial | 1.15% | 100
|
| $1.175 million | 2012 | Serial | 1.4% | 100
|
| $1.23 million | 2012 | Serial | 1.5% | 100
|
| $1.3 million | 2013 | Serial | 2% | 100
|
| $1.345 million | 2013 | Serial | 2.1% | 100
|
| $1.385 million | 2014 | Serial | 2.4% | 100
|
| $1.43 million | 2014 | Serial | 2.5% | 100
|
| $1.47 million | 2015 | Serial | 3% | 100
|
| $1.515 million | 2015 | Serial | 3.1% | 100
|
| $1.555 million | 2016 | Serial | 3.5% | 100
|
| $1.605 million | 2016 | Serial | 3.6% | 100
|
| $1.65 million | 2017 | Serial | 3.85% | 100
|
| $1.695 million | 2017 | Serial | 3.85% | 100
|
| $1.745 million | 2018 | Serial | 4.1% | 100
|
| $1.8 million | 2018 | Serial | 4.1% | 100
|
| $1.855 million | 2019 | Serial | 4.45% | 100
|
| $1.26 million | 2019 | Serial | 4.45% | 100
|
| $26.15 million | 2041 | Term | 5% | 118.434
|
|
|
| $27.155 million series 2011-2
|
| Amount | Maturity | Type | Coupon | Price
|
| $655,000 | 2019 | Serial | 3.55% | 100
|
| $1.965 million | 2020 | Serial | 3.8% | 100
|
| $1.91 million | 2020 | Serial | 3.8% | 100
|
| $1.935 million | 2021 | Serial | 4% | 100
|
| $2 million | 2021 | Serial | 4% | 100
|
| $2.06 million | 2022 | Serial | 4.25% | 100
|
| $2.12 million | 2022 | Serial | 4.25% | 100
|
| $14.51 million | 2026 | Term | 5% | 100
|
|
|
| $7.7 million series 2011-3
|
| Amount | Maturity | Type | Coupon | Price
|
| $7.7 million | Jan. 1, 2027 | Term | 5.05% | 100
|
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