By Sheri Kasprzak
New York, Dec. 9 - The New Jersey Housing and Mortgage Finance Agency sold $104.155 million of series 2011 single-family housing mortgage revenue bonds, said a pricing sheet.
The bonds (Aa1) were sold through Bank of America Merrill Lynch.
The deal included $73.09 million of series 2011B bonds, $9.015 million of series 2011C bonds and $22.05 million of series 2011D bonds.
The 2011B bonds are due 2026, 2028, 2030 and 2032. The 2026 bonds have a 4% coupon priced at par, and the 2028 bonds have a 4.375% coupon priced at par. The 2030 bonds have a 4.5% coupon priced at par, and the 2032 bonds have a 4.25% coupon priced at 104.46.
The 2011C bonds are due 2012 to 2017 with 0.3% to 2.25% coupons, all priced at par.
The 2011D bonds are due 2013 to 2018 with 1.2% to 3.25% coupons, all priced at par.
Proceeds will be used to fund single-family housing mortgage loans and refund the agency's series 2000BB and 2000CC single-family housing mortgage revenue bonds.
Issuer: | New Jersey Housing and Mortgage Finance Agency
|
Issue: | Series 2011 single-family housing mortgage revenue bonds
|
Amount: | $104.155 million
|
Type: | Negotiated
|
Underwriter: | Bank of America Merrill Lynch
|
Rating: | Moody's: Aa1
|
Pricing date: | Dec. 8
|
Settlement date: | Dec. 22
|
|
$73.09 million series 2011B bonds
|
Amount | Maturity | Type | Coupon | Price
|
$10.665 million | 2026 | Term | 4% | 100
|
$13.26 million | 2028 | Term | 4.375% | 100
|
$27.43 million | 2030 | Term | 4.5% | 100
|
$21.735 million | 2032 | Term | 4.25% | 104.46
|
|
$9.015 million series 2011C bonds
|
Amount | Maturity | Type | Coupon | Price
|
$1.415 million | 2012 | Serial | 0.30% | 100
|
$1.445 million | 2012 | Serial | 0.50% | 100
|
$745,000 | 2013 | Serial | 0.65% | 100
|
$765,000 | 2013 | Serial | 0.875% | 100
|
$780,000 | 2014 | Serial | 1% | 100
|
$800,000 | 2014 | Serial | 1.125% | 100
|
$825,000 | 2015 | Serial | 1.5% | 100
|
$845,000 | 2015 | Serial | 1.65% | 100
|
$805,000 | 2016 | Serial | 2% | 100
|
$590,000 | 2017 | Serial | 2.25% | 100
|
|
$22.05 million series 2011D bonds
|
Amount | Maturity | Type | Coupon | Price
|
$1.34 million | 2013 | Serial | 1.2% | 100
|
$1.805 million | 2013 | Serial | 1.3% | 100
|
$1.86 million | 2014 | Serial | 1.75% | 100
|
$1.905 million | 2014 | Serial | 1.875% | 100
|
$1.94 million | 2015 | Serial | 2.25% | 100
|
$1.99 million | 2015 | Serial | 2.375% | 100
|
$2.9 million | 2016 | Serial | 2.75% | 100
|
$2.165 million | 2016 | Serial | 2.875% | 100
|
$2.45 million | 2017 | Serial | 3% | 100
|
$3.115 million | 2017 | Serial | 3.125% | 100
|
$580,000 | 2018 | Serial | 3.25% | 100
|
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