Mississippi Home preps $50 million sale of mortgage revenue bonds

By Sheri Kasprzak

New York, Oct. 28 - The Mississippi Home Corp. is expected to bring to market $50 million in series 2010A non-AMT homeownership mortgage revenue bonds, according to a preliminary official statement.

The bonds will be sold through senior manager Morgan Stanley & Co. Inc. with Bank of America Merrill Lynch, Morgan Keegan & Co. Inc. and Duncan-Williams Inc.

The bonds are due 2012 to 2020 with term bonds due 2025 and 2031.

Proceeds will be used to finance mortgage loans.

Additionally, the corporation intends to convert $50 million in series 2009B-1 bonds, which are due Dec. 1, 2041.

Based in Jackson, Miss., the corporation provides affordable mortgage loans to low- to moderate-income homebuyers.

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