By Sheri Kasprzak
New York, March 13 - The New York State Mortgage Agency sold $123.84 million of homeowner mortgage revenue bonds, according to a pricing sheet.
The deal included $12 million of series 185 non-AMT bonds, $80.19 million of series 186 AMT bonds and $31.65 million of series 187 taxable bonds.
The series 185 bonds are due Oct. 1, 2029 and have a 3.95% coupon priced at par.
The series 186 bonds are due 2017 to 2025 with a term bond due in 2029. The serial coupons range from 1.2% to 3.95% all priced at par. The 2029 bonds have a 4.3% coupon priced at par.
The series 187 bonds have a 2014 to 2018 with coupons from 0.20% to 1.59% priced at par.
The bonds were sold through BofA Merrill Lynch.
Proceeds will be used to purchase recently originated mortgage loans, purchase new mortgage loans and finance second-lien Down Payment Assistance Mortgage Loans.
| Issuer: | New York State Mortgage Agency
|
| Issue: | Homeowner mortgage revenue bonds
|
| Amount: | $123.84 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Academy Securities Inc., Barclays, CastleOak Securities LP, George K. Baum & Co., Loop Capital Markets LLC, M&T Securities Inc., Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | March 13
|
| Settlement date: | March 27
|
|
|
| $12 million series 185 non-AMT bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2029 | Term | 3.95% | 100
|
|
|
| $80.19 million series 186 AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.25 million | 2017 | Serial | 1.2% | 100
|
| $4.3 million | 2018 | Serial | 1.7% | 100
|
| $4.25 million | 2019 | Serial | 2% | 100
|
| $4.25 million | 2019 | Serial | 2.15% | 100
|
| $4.2 million | 2020 | Serial | 2.5% | 100
|
| $4.2 million | 2020 | Serial | 2.7% | 100
|
| $4.2 million | 2021 | Serial | 3% | 100
|
| $4.2 million | 2021 | Serial | 3.1% | 100
|
| $4.25 million | 2022 | Serial | 3.4% | 100
|
| $4.25 million | 2022 | Serial | 3.5% | 100
|
| $4.3 million | 2023 | Serial | 3.625% | 100
|
| $4.3 million | 2023 | Serial | 3.65% | 100
|
| $4.25 million | 2024 | Serial | 3.8% | 100
|
| $4.15 million | 2024 | Serial | 3.85% | 100
|
| $5.3 million | 2025 | Serial | 3.95% | 100
|
| $2.6 million | 2025 | Serial | 3.95% | 100
|
| $12.94 million | 2029 | Term | 4.3% | 100
|
|
|
| $31.65 million series 187 taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.75 million | 2014 | Serial | 0.20% | 100
|
| $4.75 million | 2015 | Serial | 0.28% | 100
|
| $4.65 million | 2015 | Serial | 0.47% | 100
|
| $4.55 million | 2016 | Serial | 0.78% | 100
|
| $4.35 million | 2016 | Serial | 0.96% | 100
|
| $4.3 million | 2017 | Serial | 1.14% | 100
|
| $4.3 million | 2018 | Serial | 1.59% | 100
|
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