New York State Mortgage prepares $151.78 million sale of revenue bonds

By Sheri Kasprzak

New York, July 7 – The New York State Mortgage Agency is expected to price $151,775,000 of series 2015 homeowner mortgage revenue bonds, according to a preliminary official statement.

The bonds will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Academy Securities, Barclays, Blaylock Beal Van LLC, CastleOak Securities LP, Loop Capital Markets LLC, Ramirez & Co. Inc. and Raymond James/Morgan Keegan.

The deal includes $45.41 million of series 192 non-AMT bonds, $20.64 million of series 193 non-AMT bonds and $85,725,000 of series 194 AMT bonds.

The series 192 bonds are due Oct. 1, 2031 and Oct. 1, 2035.

The series 193 bonds are due 2016 to 2018 with a term bond due in 2040.

The series 194 bonds are due 2018 to 2026 with term bonds due in 2028 and 2035.

Proceeds will be used to purchase recently originated mortgages, acquire new mortgages and finance down payment assistance loans.

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