Montgomery County Housing, Md., preps $59.17 million of mortgage bonds

By Sheri Kasprzak

New York, May 22 - The Montgomery County Housing Opportunities Commission of Maryland plans to price $59.17 million of series 2013 single family mortgage revenue bonds, according to a preliminary official statement.

The deal includes $39.76 million of series 2013A non-AMT bonds, $16,225,000 of series 2013B non-AMT bonds and $3,185,000 of series 2013C AMT bonds.

The bonds (Aa2) will be sold through senior manager BofA Merrill Lynch. The co-managers are J.P. Morgan Securities LLC, M&T Securities Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC and RBC Capital Markets LLC.

The 2013A bonds are due 2017 to 2024 with a term bond due in 2031.

The 2013B bonds are due 2015 to 2017 with term bonds due in 2033, 2038 and 2043.

The 2013C bonds are due in 2014.

Proceeds will be used to finance mortgage loans.

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