Michigan State Housing preps $77.38 million offering of revenue bonds

By Sheri Kasprzak

New York, Aug. 5 – The Michigan State Housing Development Authority is set to price $77.38 million of series 2015A AMT single-family mortgage revenue bonds, according to a preliminary official statement.

The bonds (Aa2/AA+/) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and Barclays as the senior managers. The co-managers are BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.

The bonds are due 2016 to 2025 with term bonds due 2030, 2035 and 2046.

Proceeds will be used to finance the purchase of new single-family mortgage loans and down payment assistance loans.

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