Published on 11/24/2015 in the Prospect News Municipals Daily.
New Issue: Florida Housing Finance offers up $55 million of mortgage revenue bonds
By Sheri Kasprzak
New York, Nov. 24 – The Florida Housing Finance Corp. sold $55 million of series 2015-1 non-AMT homeowner mortgage revenue bonds, according to a pricing sheet. The deal was upsized from $50 million.
The bonds (Aaa) were sold through senior manager Morgan Stanley & Co. LLC.
The bonds are due 2017 to 2027 with term bonds due in 2030, 2035, 2040, 2045 and 2047. The serial coupons range from 0.6% to 3% all priced at par. The 2030 bonds have a 3.45% coupon priced at par and the 2035 bonds have a 3.75% coupon priced at par. The 2040 bonds have a 3.9% coupon priced at par and the 2045 bonds have a 3.95% coupon priced at par. The 2047 bonds have a 4% coupon priced at 108.691.
Proceeds will be used to finance mortgage loans for affordable housing projects in the state.
| Issuer: | Florida Housing Finance Corp.
|
| Issue: | Series 2015-1 non-AMT homeowner mortgage revenue bonds
|
| Amount: | $55 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Citigroup Global Markets Inc., RBC Capital Markets LLC, Raymond James/Morgan Keegan and BofA Merrill Lynch (co-managers)
|
| Rating: | Moody’s: Aaa
|
| Pricing date: | Nov. 24
|
| Settlement date: | Dec. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $385,000 | 2017 | Serial | 0.60% | 100
|
| $500,000 | 2017 | Serial | 0.80% | 100
|
| $485,000 | 2018 | Serial | 1% | 100
|
| $490,000 | 2018 | Serial | 1.1% | 100
|
| $485,000 | 2019 | Serial | 1.3% | 100
|
| $485,000 | 2019 | Serial | 1.4% | 100
|
| $495,000 | 2020 | Serial | 1.55% | 100
|
| $475,000 | 2020 | Serial | 1.6% | 100
|
| $475,000 | 2021 | Serial | 1.85% | 100
|
| $475,000 | 2021 | Serial | 1.9% | 100
|
| $480,000 | 2022 | Serial | 2.05% | 100
|
| $450,000 | 2022 | Serial | 2.15% | 100
|
| $460,000 | 2023 | Serial | 2.35% | 100
|
| $455,000 | 2023 | Serial | 2.45% | 100
|
| $445,000 | 2024 | Serial | 2.55% | 100
|
| $495,000 | 2024 | Serial | 2.6% | 100
|
| $585,000 | 2025 | Serial | 2.75% | 100
|
| $600,000 | 2025 | Serial | 2.8% | 100
|
| $615,000 | 2026 | Serial | 2.9% | 100
|
| $625,000 | 2026 | Serial | 2.95% | 100
|
| $645,000 | 2027 | Serial | 3% | 100
|
| $660,000 | 2027 | Serial | 3% | 100
|
| $4.31 million | 2030 | Term | 3.45% | 100
|
| $8,695,000 | 2035 | Term | 3.75% | 100
|
| $8,265,000 | 2040 | Term | 3.9% | 100
|
| $5,205,000 | 2045 | Term | 3.95% | 100
|
| $17.26 million | 2047 | Term | 4% | 108.691
|
|
|
|
|
© 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.
