Indiana Housing and Community plans $52 million mortgage revenue bonds

By Sheri Kasprzak

New York, Nov. 9 - The Indiana Housing and Community Development Authority is set to price $52 million of series 2011C home first mortgage revenue bonds, according to a preliminary official statement.

The bonds will be sold on a negotiated basis with RBC Capital Markets LLC as the senior manager. The co-managers are J.P. Morgan Securities LLC, Bank of America Merrill Lynch, City Securities Corp., Castleoak Securities LP and Morgan Stanley & Co. LLC.

The bonds are due 2013 to 2022 with term bonds due in 2025 and 2027.

Proceeds will be used to make mortgage loans.

The offering is being conducted along with the conversion of $78 million of series 2009A-4 home first mortgage revenue bonds. The 2.61% 2009A-4 bonds are due Dec. 1, 2041 and will be converted from the short-term rate to a permanent rate after Feb. 8.

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