Published on 1/21/2015 in the Prospect News Municipals Daily.
New Issue: Florida Housing Finance brings $60 million of mortgage revenue bonds
By Sheri Kasprzak
New York, Jan. 21 – The Florida Housing Finance Corp. sold $60 million of series 2015A non-AMT homeowner mortgage revenue bonds, according to a pricing sheet. The offering was upsized from $50 million.
The bonds are due 2016 to 2025 with term bonds due in 2030, 2035, 2041 and 2046. The serial coupons range from 0.35% to 2.7% all priced at par. The 2030 bonds have a 3.2% coupon, the 2035 bonds have a 3.5% coupon and the 2041 bonds have a 3.65% coupon, all priced at par. The 2046 bonds have a 3.5% coupon priced at 108.543 to yield 1.7%.
The bonds were sold through senior manager Citigroup Global Markets Inc.
Proceeds will be used to finance mortgage loans.
| Issuer: | Florida Housing Finance Corp.
|
| Issue: | Series 2015A non-AMT homeowner mortgage revenue bonds
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| Amount: | $60 million
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| Type: | Negotiated
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| Underwriters: | Citigroup Global Markets Inc. (lead), Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Raymond James/Morgan Keegan and BofA Merrill Lynch (co-managers)
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| Pricing date: | Jan. 21
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| Settlement date: | Feb. 18
|
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $245,000 | 2016 | Serial | 0.35% | 100 | 0.35%
|
| $505,000 | 2017 | Serial | 0.75% | 100 | 0.75%
|
| $520,000 | 2017 | Serial | 0.85% | 100 | 0.85%
|
| $525,000 | 2018 | Serial | 1.00% | 100 | 1.00%
|
| $540,000 | 2018 | Serial | 1.10% | 100 | 1.10%
|
| $550,000 | 2019 | Serial | 1.35% | 100 | 1.35%
|
| $565,000 | 2019 | Serial | 1.45% | 100 | 1.45%
|
| $570,000 | 2020 | Serial | 1.60% | 100 | 1.60%
|
| $590,000 | 2020 | Serial | 1.70% | 100 | 1.70%
|
| $600,000 | 2021 | Serial | 1.90% | 100 | 1.90%
|
| $610,000 | 2021 | Serial | 2.00% | 100 | 2.00%
|
| $625,000 | 2022 | Serial | 2.15% | 100 | 2.15%
|
| $640,000 | 2022 | Serial | 2.25% | 100 | 2.25%
|
| $650,000 | 2023 | Serial | 2.40% | 100 | 2.40%
|
| $670,000 | 2023 | Serial | 2.45% | 100 | 2.45%
|
| $680,000 | 2024 | Serial | 2.60% | 100 | 2.60%
|
| $695,000 | 2024 | Serial | 2.60% | 100 | 2.60%
|
| $710,000 | 2025 | Serial | 2.70% | 100 | 2.70%
|
| $725,000 | 2025 | Serial | 2.70% | 100 | 2.70%
|
| $8,165,000 | 2030 | Term | 3.20% | 100 | 3.20%
|
| $10,095,000 | 2035 | Term | 3.50% | 100 | 3.50%
|
| $14.11 million | 2041 | Term | 3.65% | 100 | 3.65%
|
| $16,415,000 | 2046 | Term | 3.50% | 108.543 | 1.70%
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