Published on 12/17/2014 in the Prospect News Municipals Daily.
New Issue: Illinois Housing Development prices $66.54 million housing bonds
By Sheri Kasprzak
New York, Dec. 17 – The Illinois Housing Development Authority sold $66.54 million of series 2015 housing bonds, according to a pricing sheet.
The deal included $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 2015A-1 bonds are due 2015 to 2025 with term bonds due in 2029, 2034 and 2036. The serial coupons range from 0.5% to 3%, all priced at par. The 2029 bonds have a 3.4% coupon, the 2034 bonds have a 3.7% coupon and the 2036 bonds have a 3.85% coupon, all priced at par.
The 2015A-2 bonds are due 2015 to 2025 with a term bond due in 2029. The serial coupons range from 0.8% to 3.615%, all priced at par. The 2029 bonds have a 4.065% coupon priced at par.
The 2015A-3 bonds are due Jan. 1, 2045 and initially bear interest at the weekly rate.
The bonds were sold through Citigroup Global Markets Inc., which was senior manager for the 2015A-1 and 2015A-2 bonds and sole underwriter for the 2015A-3 bonds.
Proceeds will be used to refund existing bonds issued to fund mortgage loans.
| Issuer: | Illinois Housing Development Authority
|
| Issue: | Series 2015 housing bonds
|
| Amount: | $66.54 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead for 2015A-1 and 2015A-2, sole for 2015A-3), Fidelity Capital Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and RBC Capital Markets LLC (co-managers for 2015A-1 and 2015A-2)
|
| Pricing date: | Dec. 16
|
| Settlement date: | Jan. 21
|
|
|
| $30,665,000 series 2015A-1 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $520,000 | 2015 | Serial | 0.50% | 100
|
| $540,000 | 2016 | Serial | 0.65% | 100
|
| $555,000 | 2016 | Serial | 0.80% | 100
|
| $575,000 | 2017 | Serial | 0.85% | 100
|
| $615,000 | 2017 | Serial | 1.00% | 100
|
| $770,000 | 2018 | Serial | 1.35% | 100
|
| $500,000 | 2018 | Serial | 1.50% | 100
|
| $375,000 | 2019 | Serial | 1.70% | 100
|
| $395,000 | 2019 | Serial | 1.85% | 100
|
| $425,000 | 2020 | Serial | 2.00% | 100
|
| $530,000 | 2020 | Serial | 2.10% | 100
|
| $540,000 | 2021 | Serial | 2.30% | 100
|
| $575,000 | 2021 | Serial | 2.40% | 100
|
| $630,000 | 2022 | Serial | 2.60% | 100
|
| $545,000 | 2022 | Serial | 2.70% | 100
|
| $370,000 | 2023 | Serial | 2.80% | 100
|
| $380,000 | 2023 | Serial | 2.85% | 100
|
| $385,000 | 2024 | Serial | 2.90% | 100
|
| $395,000 | 2024 | Serial | 2.95% | 100
|
| $475,000 | 2025 | Serial | 3.00% | 100
|
| $500,000 | 2025 | Serial | 3.00% | 100
|
| $5.61 million | 2029 | Term | 3.40% | 100
|
| $10.35 million | 2034 | Term | 3.70% | 100
|
| $4.11 million | 2036 | Term | 3.85% | 100
|
|
|
| $13,295,000 series 2015A-2 taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $700,000 | 2015 | Serial | 0.80% | 100
|
| $715,000 | 2016 | Serial | 1.10% | 100
|
| $735,000 | 2016 | Serial | 1.40% | 100
|
| $720,000 | 2017 | Serial | 1.677% | 100
|
| $730,000 | 2017 | Serial | 1.777% | 100
|
| $690,000 | 2018 | Serial | 2.119% | 100
|
| $685,000 | 2018 | Serial | 2.219% | 100
|
| $665,000 | 2019 | Serial | 2.369% | 100
|
| $665,000 | 2019 | Serial | 2.469% | 100
|
| $650,000 | 2020 | Serial | 2.699% | 100
|
| $565,000 | 2020 | Serial | 2.799% | 100
|
| $550,000 | 2021 | Serial | 2.899% | 100
|
| $500,000 | 2021 | Serial | 3.049% | 100
|
| $490,000 | 2022 | Serial | 3.115% | 100
|
| $495,000 | 2022 | Serial | 3.265% | 100
|
| $515,000 | 2023 | Serial | 3.365% | 100
|
| $420,000 | 2023 | Serial | 3.415% | 100
|
| $340,000 | 2024 | Serial | 3.465% | 100
|
| $345,000 | 2024 | Serial | 3.565% | 100
|
| $290,000 | 2025 | Serial | 3.615% | 100
|
| $285,000 | 2025 | Serial | 3.615% | 100
|
| $1,545,000 | 2029 | Term | 4.065% | 100
|
|
|
| $22.58 million series 2015A-3 variable-rate taxable bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2045 | Term | Weekly | 100
|
|
|
|
|
© 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.
