Illinois Housing Development to sell $66.54 million housing bonds

By Sheri Kasprzak

New York, Dec. 10 – The Illinois Housing Development Authority is set to price $66.54 million of series 2015 housing bonds, according to a preliminary official statement.

The deal includes $30,665,000 of series 2015A-1 non-AMT bonds, $13,295,000 of series 2015A-2 taxable bonds and $22.58 million of series 2015A-3 variable-rate taxable bonds.

The bonds will be sold on a negotiated basis. Citigroup Global Markets Inc. is the lead manager for the 2015A-1 and 2015A-2 bonds and the sole underwriter for the 2015A-3 bonds. The co-managers for the 2015A-1 and 2015A-2 bonds are Fidelity Capital Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and RBC Capital Markets LLC.

The 2015A-1 bonds are due 2015 to 2025 with term bonds due in 2029, 2034 and 2036. The 2015A-2 bonds are due 2015 to 2025 with a term bond due in 2029. The 2015A-3 bonds are due in 2045.

Proceeds will be used to refund existing bonds issued to fund mortgage loans.

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