Published on 8/6/2014 in the Prospect News Municipals Daily.
New Issue: Massachusetts Housing offers up $50 million of housing revenue bonds
By Sheri Kasprzak
New York, Aug. 6 – The Massachusetts Housing Finance Agency sold $50 million of series 171 single-family housing revenue bonds, according to a pricing sheet.
The bonds (/AA/) were sold through senior managers RBC Capital Markets LLC, BofA Merrill Lynch, Barclays, Loop Capital Markets LLC and Wells Fargo Securities LLC.
The bonds are due 2015 to 2026 with term bonds due in 2029, 2034, 2037 and 2044. The serial coupons range from 0.15% to 3.25% all priced at par. The 2029 bonds have a 3.55% coupon, the 2034 bonds have a 3.85% coupon, and the 2037 bonds have a 4% coupon all priced at par. The 2044 bonds have a 4% coupon priced at 109.367.
Proceeds will be used to finance new mortgage loans.
| Issuer: | Massachusetts Housing Finance Agency
|
| Issue: | Series 171 single-family housing revenue bonds
|
| Amount: | $50 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC, BofA Merrill Lynch, Barclays, Loop Capital Markets LLC and Wells Fargo Securities LLC (lead), Academy Securities Inc., Blaylock Beal Van LLC, Citigroup Global Markets Inc., City Securities Corp., Eastern Bank Capital Markets, Janney Montgomery Scott LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, Rice Financial Products Co. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Rating: | Standard & Poor’s: AA
|
| Pricing date: | Aug. 6
|
| Settlement date: | Aug. 20
|
|
|
| Maturity | Type | Coupon | Price
|
| 2015 | Serial | 0.15% | 100
|
| 2015 | Serial | 0.20% | 100
|
| 2016 | Serial | 0.40% | 100
|
| 2016 | Serial | 0.50% | 100
|
| 2017 | Serial | 0.70% | 100
|
| 2017 | Serial | 0.80% | 100
|
| 2018 | Serial | 1.05% | 100
|
| 2018 | Serial | 1.15% | 100
|
| 2019 | Serial | 1.55% | 100
|
| 2019 | Serial | 1.65% | 100
|
| 2020 | Serial | 1.90% | 100
|
| 2020 | Serial | 2.00% | 100
|
| 2021 | Serial | 2.30% | 100
|
| 2021 | Serial | 2.40% | 100
|
| 2022 | Serial | 2.60% | 100
|
| 2022 | Serial | 2.65% | 100
|
| 2023 | Serial | 2.85% | 100
|
| 2023 | Serial | 2.90% | 100
|
| 2024 | Serial | 3.00% | 100
|
| 2024 | Serial | 3.00% | 100
|
| 2025 | Serial | 3.10% | 100
|
| 2025 | Serial | 3.10% | 100
|
| 2026 | Serial | 3.25% | 100
|
| 2026 | Serial | 3.25% | 100
|
| 2029 | Term | 3.55% | 100
|
| 2034 | Term | 3.85% | 100
|
| 2037 | Term | 4.00% | 100
|
| 2044 | Term | 4.00% | 109.367
|
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