North Dakota Housing Finance plans $65.85 million bond offering Feb. 26

By Sheri Kasprzak

New York, Feb. 19 - North Dakota Housing Finance Agency intends to price $65.85 million in housing finance program bonds on Feb. 26.

The offering includes $50 million in series 2008A housing finance program bonds and $15.85 million in series 2008B housing finance program taxable bonds, according to a preliminary official statement released Tuesday.

The bonds will be sold on a negotiated basis through remarketing agent Citigroup Global Markets. RBC Capital Markets and Piper Jaffray & Co. are the co-managers.

The 2008A bonds have a serial structure from 2009 to 2018 with term bonds due 2023, 2028, 2032, 2038 and 2039. The 2039 bonds will have a variable interest rate, according to the official statement.

The series 2008B bonds are term bonds due 2038.

Proceeds from the bonds will be used to make single-family home mortgage loans to citizens of North Dakota.

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