Published on 5/8/2013 in the Prospect News Municipals Daily.
New Issue: Illinois Housing Development sells $127.6 million taxable housing bonds
By Sheri Kasprzak
New York, May 8 - The Illinois Housing Development Authority sold $127,605,000 of series 2013B taxable housing bonds, according to a pricing sheet.
The bonds (Aa3) were sold through senior manager Ramirez & Co. Inc.
The bonds are due 2014 to 2024 with term bonds due in 2027, 2033, 2038, 2043 and 2047. The serial coupons range from 0.45% to 3.605% all priced at par. The 2027 bonds have a 4.105% coupon priced at par and a 4.105% coupon priced at par. The 2033 bonds have a 4.44% coupon priced at par and a 4.44% coupon priced at par. The 2038 bonds have a 4.54% coupon priced at par and a 4.54% coupon priced at par. The 2043 bonds have a 4.64% coupon priced at par and a 4.64% coupon priced at par. The 2047 bonds have a 4.79% coupon priced at par.
Proceeds will be used to acquire unassigned mortgage loans.
| Issuer: | Illinois Housing Development Authority
|
| Issue: | Series 2013B taxable housing bonds
|
| Amount: | $127,605,000
|
| Type: | Negotiated
|
| Underwriters: | Ramirez & Co. Inc. (lead), Citigroup Global Markets Inc., Fidelity Capital Markets, Mesirow Financial Inc. and The Williams Capital Group LP (co-managers)
|
| Rating: | Moody's: Aa3
|
| Pricing date: | May 8
|
| Settlement date: | May 30
|
|
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 0.45% | 100
|
| 2014 | Serial | 0.55% | 100
|
| 2015 | Serial | 0.824% | 100
|
| 2015 | Serial | 0.924% | 100
|
| 2016 | Serial | 1.138% | 100
|
| 2016 | Serial | 1.238% | 100
|
| 2017 | Serial | 1.537% | 100
|
| 2017 | Serial | 1.637% | 100
|
| 2018 | Serial | 1.837% | 100
|
| 2018 | Serial | 1.937% | 100
|
| 2019 | Serial | 2.279% | 100
|
| 2020 | Serial | 2.529% | 100
|
| 2021 | Serial | 2.9% | 100
|
| 2021 | Serial | 2.905% | 100
|
| 2022 | Serial | 3.2% | 100
|
| 2022 | Serial | 3.205% | 100
|
| 2023 | Serial | 3.35% | 100
|
| 2023 | Serial | 3.355% | 100
|
| 2024 | Serial | 3.605% | 100
|
| 2024 | Serial | 3.605% | 100
|
| 2027 | Term | 4.105% | 100
|
| 2027 | Term | 4.105% | 100
|
| 2033 | Term | 4.44% | 100
|
| 2033 | Term | 4.44% | 100
|
| 2038 | Term | 4.54% | 100
|
| 2038 | Term | 4.54% | 100
|
| 2043 | Term | 4.64% | 100
|
| 2043 | Term | 4.64% | 100
|
| 2047 | Term | 4.79% | 100
|
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