By Cristal Cody
Springdale, Ark., March 13 - The Idaho Housing Finance Authority priced $173.035 million grant and revenue anticipation federal highway trust bonds with a 4.73% true interest cost, a sell-side source said Thursday.
The series 2008A bonds (Aa3/-/A+) priced Tuesday with 2.6% to 5.25% coupons to yield 2.55% to 4.92%.
The bonds have serial maturities from 2008 through 2026.
Assurance Guaranty insured the bonds, except for maturities 2009 and 2010, a source said.
Citigroup was the senior underwriter.
Proceeds will provide funding for six highway projects. The bonds are the second issue in the state's Garvee program, which will sell nearly $1 billion bonds to cover road projects.
| Issuer: | Idaho Housing Finance Authority
|
| Issue: | Grant and revenue anticipation federal highway trust bonds
|
| Amount: | $173.035 million
|
| Type: | Negotiated
|
| Maturities: | 2008 through 2026
|
| True interest cost: | 4.73%
|
| Coupons: | 2.6% to 5.25%
|
| Yields: | 2.55% to 4.92%
|
| Ratings: | Moody's: Aa3
|
| Fitch: A+
|
| Pricing date: | March 11
|
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