By Sheri Kasprzak
New York, March 7 - North Dakota Housing Finance Agency priced $65.85 million in housing finance program bonds, according to a final official statement released Friday.
The offering priced Feb.27 and included $50 million in series 2008A bonds and $15.85 million in series 2008B taxable bonds (Aa1).
The series 2008A bonds have a serial structure from 2009 to 2018 with coupons from 2.6% to 4.9%, all priced at par. The 2008A bonds also include term bonds due 2023, 2028, 2032, 2038 and 2039. The 2023 maturity has a 5.4% coupon; the 2028 maturity has a 5.65% coupon; and the 2032 maturity has a 5.8% coupon, all priced at par. The 2038 term bond has a 5.75% coupon, priced at 105.46%. The offering also included a variable-rate term bond due 2039.
The series 2008B bonds include a variable-rate term bond due 2038.
The bonds were sold on a negotiated basis through lead manager Citigroup Global Markets. RBC Capital Markets and Piper Jaffray were the co-managers.
Proceeds from the sale will be used for first-time mortgage loans in North Dakota.
| Issuer: | North Dakota Housing Finance Agency
|
| Issue: | Housing finance program bonds
|
| Amount: | $65.85 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets (lead); RBC Capital Markets and Piper Jaffray (co-managers)
|
| Rating: | Moody's: Aa1
|
| Pricing date: | Feb. 27
|
|
|
| Series 2008A bonds
|
| Maturities | Type | Coupons | Price
|
| 2009 | Serial | 2.6% | 100%
|
| 2010 | Serial | 2.9% | 100%
|
| 2011 | Serial | 3.25% | 100%
|
| 2012 | Serial | 3.65% | 100%
|
| 2013 | Serial | 3.90% | 100%
|
| 2014 | Serial | 4.25% | 100%
|
| 2015 | Serial | 4.45% | 100%
|
| 2016 | Serial | 4.60% | 100%
|
| 2017 | Serial | 4.75% | 100%
|
| 2018 | Serial | 4.90% | 100%
|
| 2023 | Term | 5.40% | 100%
|
| 2028 | Term | 5.65% | 100%
|
| 2032 | Term | 5.80% | 100%
|
| 2038 | Term | 5.75% | 105.46%
|
| 2039 | Term | Variable
|
|
|
| Series 2008B bonds
|
| Maturity | Type | Coupons | Price
|
| 2038 | Term | Variable | 100%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
