By Cristal Cody
Springdale, Ark., Aug. 5 - The North Dakota Housing Finance Agency priced $111 million fixed-rate housing finance program bonds for the home mortgage finance program on Tuesday, the issuer told Prospect News.
The series 2008D bonds (Aa1) priced with 2.65% to 4.65% coupons for the serial maturities from 2010 through 2018, said Pat Nagel, chief financial officer.
The terms due 2023, 2028, 2033 and 2039 priced with 5.15% to 5.625% coupons.
The true interest cost and yields were not immediately available.
The agency also plans to price an $11 million variable-rate term bond due in 2039 at closing on Sept. 5.
Citigroup Global Markets was the senior manager of the negotiated sale. RBC Capital Markets and Piper Jaffray & Co. were co-managers.
Proceeds will be used to purchase first-time homebuyer loans.
| Issuer: | North Dakota Housing Finance Agency
|
| Issue: | Series 2008D housing finance program bonds
|
| Amount: | $111 million
|
| Type: | Negotiated
|
| Coupons: | 2.65%-4.65% serials; 5.15%-5.625% terms
|
| Maturities: | 2010-2018 serials; 2023, 2028, 2033 and 2039 terms
|
| Underwriter: | Citigroup Global Markets (lead)
|
| Rating: | Moody's: Aa1
|
| Pricing date: | Aug. 5
|
| Settlement date: | Sept. 5
|
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