Published on 4/14/2015 in the Prospect News Municipals Daily.
New Issue: Nebraska Investment Finance prices $100 million housing revenue bonds
By Sheri Kasprzak
New York, April 14 – The Nebraska Investment Finance Authority sold $100 million of series 2015 single-family housing revenue bonds, said a pricing sheet.
The deal included $65 million of series 2015A non-AMT bonds and $35 million of series 2015B AMT variable-rate bonds.
The 2015A bonds are due 2016 to 2026 with term bonds due in 2030, 2035, 2038 and 2045. The serial coupons range from 0.30% to 2.90%. The 2030 bonds have a 3.45% coupon, the 2035 bonds have a 3.75% coupon, the 2038 bonds have a 3.85% coupon, and the 2045 bonds have a 3.5% coupon.
The 2015B bonds are due Sept. 1, 2038 and bear interest at the weekly rate.
All of the bonds priced at par.
The bonds were offered through J.P. Morgan Securities LLC.
Proceeds will be used to construct a four-story medical office building at Sparrow Hospital in Ionia, Mich., and to refund series 2005 and a portion of series 2007 revenue bonds.
| Issuer: | Nebraska Investment Finance Authority
|
| Issue: | Series 2015 single-family housing revenue bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Ameritas Investment Corp., D.A. Davidson & Co., First National Capital Markets Inc. and George K. Baum & Co. (co-managers)
|
| Pricing date: | April 14
|
| Settlement date: | April 30
|
|
|
| $65 million series 2015A non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $630,000 | 2016 | Serial | 0.30% | 100
|
| $530,000 | 2016 | Serial | 0.40% | 100
|
| $540,000 | 2017 | Serial | 0.70% | 100
|
| $550,000 | 2017 | Serial | 0.80% | 100
|
| $555,000 | 2018 | Serial | 1.15% | 100
|
| $570,000 | 2018 | Serial | 1.25% | 100
|
| $575,000 | 2019 | Serial | 1.50% | 100
|
| $585,000 | 2019 | Serial | 1.60% | 100
|
| $605,000 | 2020 | Serial | 1.70% | 100
|
| $610,000 | 2020 | Serial | 1.80% | 100
|
| $625,000 | 2021 | Serial | 2.05% | 100
|
| $645,000 | 2021 | Serial | 2.10% | 100
|
| $655,000 | 2022 | Serial | 2.25% | 100
|
| $670,000 | 2022 | Serial | 2.30% | 100
|
| $685,000 | 2023 | Serial | 2.50% | 100
|
| $695,000 | 2023 | Serial | 2.55% | 100
|
| $715,000 | 2024 | Serial | 2.65% | 100
|
| $720,000 | 2024 | Serial | 2.70% | 100
|
| $730,000 | 2025 | Serial | 2.80% | 100
|
| $745,000 | 2025 | Serial | 2.80% | 100
|
| $765,000 | 2026 | Serial | 2.90% | 100
|
| $770,000 | 2026 | Serial | 2.90% | 100
|
| $6,735,000 | 2030 | Term | 3.45% | 100
|
| $8.31 million | 2035 | Term | 3.75% | 100
|
| $3,935,000 | 2038 | Term | 3.85% | 100
|
| $31.85 million | 2045 | Term | 3.50% | 100
|
|
|
| $35 million series 2015B AMT variable-rate bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2038 | Term | Weekly | 100
|
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