New Issue: Massachusetts Housing sells $150 million of housing revenue bonds

By Sheri Kasprzak

New York, March 8 - The Massachusetts Housing Finance Agency priced $150 million of single-family housing revenue bonds, according to a pricing sheet.

The bonds (Aa2) were sold through Morgan Stanley & Co. LLC, BofA Merrill Lynch and Barclays.

The deal included $59.74 million of series 163 AMT bonds, $3,375,000 of series 164 bonds, $61.6 million of series 165 bonds and $25,285,000 of series 166 bonds.

The series 163 bonds are due 2013 to 2023 with term bonds due in 2028 and 2033. The serial coupons range from 0.65% to 3.20%, all priced at par. The 2028 bonds have a 3.75% coupon and the 2033 bonds have a 4% coupon, both priced at par.

The series 164 bonds are due 2013 to 2017 with 0.40% to 1.10% coupons, all priced at par.

The series 165 bonds are due 2014 to 2023 with term bonds due in 2028, 2033, 2038, 2041 and 2043. The serial coupons range from 0.40% to 2.75%, all priced at par. The 2028 bonds have a 3.35% coupon priced at par, the 2033 bonds have a 3.60% coupon and the 2038 bonds have a 3.90% coupon priced at par. The 2041 bonds have a 2.65% coupon priced at 125.135 and the 2043 bonds have a 4% coupon priced at par.

The series 166 bonds are due 2013 to 2020 with term bonds due in 2023 and 2026. The serial coupons range from 0.52% 2.06%, all priced at par. The 2023 bonds have a split maturity with a 3.141% coupon and a 3.241% coupon, both priced at par. The 2026 bonds have a 3.791% coupon priced at par.

Proceeds will be used to refund existing single-family housing bonds.

Issuer:	Massachusetts Housing Finance Agency
Issue:	Single-family housing revenue bonds
Amount:	$150 million
Type:	Negotiated
Underwriters:	Morgan Stanley & Co. LLC, BofA Merrill Lynch and Barclays (lead), Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC, CastleOak Securities LP, Corby Capital Markets Inc., Eastern Bank Capital Markets, Fidelity Capital Markets Inc., George K. Baum & Co., Janney Montgomery Scott LLC, M.R. Beal & Co., Piper Jaffray & Co., Ramirez & Co. Inc., Raymond James/Morgan Keegan, Rice Financial Products Co., Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC and The Williams Capital Group LP (co-managers)
Rating:	Moody's: Aa2
Pricing date:	March 7
Settlement date:	March 21
$59.74 million series 163 AMT bonds
Amount	Maturity	Type	Coupon	Price
$375,000	2013	Serial	0.65%	100
$400,000	2014	Serial	0.70%	100
$430,000	2014	Serial	0.75%	100
$455,000	2015	Serial	1.00%	100
$480,000	2015	Serial	1.05%	100
$505,000	2016	Serial	1.25%	100
$535,000	2016	Serial	1.35%	100
$560,000	2017	Serial	1.50%	100
$1,085,000	2017	Serial	1.55%	100
$1,115,000	2018	Serial	1.85%	100
$1.14 million	2018	Serial	1.90%	100
$1,175,000	2019	Serial	2.20%	100
$1,205,000	2019	Serial	2.25%	100
$1,235,000	2020	Serial	2.50%	100
$1,265,000	2020	Serial	2.55%	100
$1,305,000	2021	Serial	2.75%	100
$1,335,000	2021	Serial	2.80%	100
$1.37 million	2022	Serial	3.00%	100
$1.41 million	2022	Serial	3.00%	100
$1,445,000	2023	Serial	3.20%	100
$1,485,000	2023	Serial	3.20%	100
$17,155,000	2028	Term	3.75%	100
$22,275,000	2033	Term	4%	100
$3,375,000 series 164 non-AMT bonds
Amount	Maturity	Type	Coupon	Price
$430,000	2013	Serial	0.40%	100
$425,000	2014	Serial	040%	100
$425,000	2014	Serial	0.50%	100
$420,000	2015	Serial	0.65%	100
$420,000	2015	Serial	0.75%	100
$420,000	2016	Serial	0.90%	100
$420,000	2016	Serial	1.00%	100
$415,000	2017	Serial	1.10%	100
$61.6 million series 165 non-AMT bonds
Amount	Maturity	Type	Coupon	Price
$280,000	2014	Serial	0.40%	100
$280,000	2014	Serial	0.50%	100
$280,000	2015	Serial	0.65%	100
$285,000	2015	Serial	0.75%	100
$295,000	2016	Serial	0.90%	100
$305,000	2016	Serial	1.00%	100
$310,000	2017	Serial	1.10%	100
$310,000	2017	Serial	1.15%	100
$325,000	2018	Serial	1.40%	100
$330,000	2018	Serial	1.45%	100
$485,000	2019	Serial	1.75%	100
$495,000	2019	Serial	1.80%	100
$505,000	2020	Serial	2.05%	100
$505,000	2020	Serial	2.10%	100
$510,000	2021	Serial	2.30%	100
$775,000	2021	Serial	2.35%	100
$770,000	2022	Serial	2.55%	100
$780,000	2022	Serial	2.55%	100
$780,000	2023	Serial	2.75%	100
$785,000	2023	Serial	2.75%	100
$8,245,000	2028	Term	3.35%	100
$3.09 million	2033	Term	3.60%	100
$6.71 million	2038	Term	3.90%	100
$26,685,000	2041	Term	2.65%	125.135
$7.48 million	2043	Term	4%	100
$25,285,000 series 166 taxable bonds
Amount	Maturity	Type	Coupon	Price
$1.5 million	2013	Serial	0.52%	100
$1.33 million	2014	Serial	0.56%	100
$685,000	2014	Serial	0.65%	100
$1,255,000	2015	Serial	0.74%	100
$100,000	2015	Serial	0.86%	100
$300,000	2016	Serial	1.115%	100
$700,000	2017	Serial	1.25%	100
$700,000	2017	Serial	1.39%	100
$825,000	2018	Serial	1.53%	100
$945,000	2018	Serial	1.663%	100
$1.27 million	2019	Serial	1.795%	100
$1,095,000	2019	Serial	1.928%	100
$1,015,000	2020	Serial	2.06%	100
$400,000	2020	Serial	2.06%	100
$2.15 million	2023	Term	3.141%	100
$2.46 million	2023	Term	3.241%	100
$8,555,000	2026	Term	3.791%	100

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