Illinois Housing readies $88.69 million taxable mortgage revenue bonds

By Sheri Kasprzak

New York, Jan. 7 – The Illinois Housing Development Authority is set to price $88,695,000 of series 2016A taxable homeowner mortgage revenue bonds, according to a preliminary official statement.

The bonds (Aa3/AA/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., RBC Capital Markets LLC, Barclays, Janney Montgomery Scott LLC and Mesirow Financial Inc.

The bonds are due 2016 to 2026 with term bonds due in 2029 and 2034.

Proceeds will be used to refund and/or redeem the authority’s outstanding series 2006A and 2006C revenue bonds.

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