By Cristal Cody
Tupelo, Miss., Oct. 29 - The Ohio Housing Finance Agency priced $72 million in residential mortgage fixed-rate revenue bonds at par with 3.5% to 6.3% coupons on Wednesday, the issuer told Prospect News.
The agency had planned to sell $50 million in revenue bonds and the remainder in variable-rate debt but decided to size the entire sale in fixed-rate bonds, said Bob Connell, director of debt management.
The true interest cost was not immediately available.
The series 2008J bonds (Aaa) have serial maturities from 2010 through 2018 and terms due 2023, 2028, 2033 and 2039.
George K. Baum & Co. was the senior manager of the negotiated sale.
The co-managers were Citigroup Global Markets, Goldman, Sachs & Co., Barclays Capital, Butler, Wick & Co., Fifth Third Securities Inc., KeyBanc Capital Markets Inc., Merrill Lynch & Co., NatCity Investments Inc. and SBK-Brooks Investment Corp.
The proceeds will be used to finance the purchase of owner-occupied residences by qualified low- and moderate-income residents and to refund outstanding obligations.
| Issuer: | Ohio Housing Finance Agency
|
| Issue: | Residential mortgage revenue bonds
|
| Amount: | $72 million
|
| Type: | Negotiated
|
| Coupons: | 3.5%-6.3%
|
| Yields: | Par
|
| Maturities: | 2010-2018 serials, terms due 2023, 2028, 2033, 2039
|
| Underwriters: | George K. Baum & Co. (lead); Citigroup Global Markets, Goldman, Sachs & Co., Barclays Capital, Butler, Wick & Co., Fifth Third Securities Inc., KeyBanc Capital Markets Inc., Merrill Lynch & Co., NatCity Investments Inc., SBK-Brooks Investment Corp. (co-managers)
|
| Rating: | Moody's: Aaa
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 14
|
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