Minnesota Housing Finance Agency plans $100 million residential housing bonds

By Aaron Hochman-Zimmerman

New York, Jan. 22 - The Minnesota Housing Finance Agency announced plans to offer $100 million in residential housing bonds early next week, according to Bill Kapthahan of the agency.

The transaction will be broken into three tranches.

The 2009 series A bonds will be $26.795 million in size, the 2009 series B bonds will be $33.205 million and the 2009 series C bonds will be $40 million.

Serial maturities range from 2010 to 2019. The term bonds will mature in 2023, 2024, 2029, 2032 and 2038.

RBC Capital Markets and Piper Jaffray will act as underwriters for the negotiated issue.

Proceeds will be used to continue the St. Paul, Minn.-based agency's mission of purchasing home mortgages to assist lower income families become or remain home owners.

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