By Sheri Kasprzak
New York, Aug. 15 - The Ohio Housing Finance Agency priced $175 million in series 2008 residential mortgage revenue bonds, according to an official statement.
The sale included $99.15 million in series 2008F non-AMT bonds, $22.1 million in series 2008G AMT bonds, $10 million in series 2008H variable-rate demand bonds and $43.75 million in series 2008I taxable variable-rate demand bonds (Aaa/VMIG1).
Citigroup Global Markets was the senior manager for the negotiated offering. The co-managers were George K. Baum & Co.; Goldman, Sachs & Co.; Lehman Brothers; Butler Wick & Co.; Fifth Third Securities; KeyBanc Capital Markets; Merrill Lynch; NatCity Investments; and SBK-Brooks Investment Corp.
The 2008F bonds are due from 2009 to 2018 with coupons from 2% to 4.5%, all priced at par. The 2008F bonds also include term bonds, all priced at par. The 2028 bonds have a 5.25% coupon, the 2033 bonds have a 5.45% coupon and the 2039 bonds have a 5.5% coupon.
The 2008G bonds are due 2024 and have a 5.625% coupon, priced at par.
The 2008H and 2008I bonds are both due Sept. 1, 2039 and both reset at the weekly rate. The initial rate could not be determined Friday.
Proceeds will be used for the purchase of mortgage loans with down payment assistance. The rest will be deposited into an acquisition account.
| Issuer: | Ohio Housing Finance Agency
|
| Issue: | Series 2008 residential mortgage revenue bonds
|
| Amount: | $175 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets (lead); George K. Baum & Co.; Goldman, Sachs & Co.; Lehman Brothers; Butler Wick & Co.; Fifth Third Securities; KeyBanc Capital Markets; Merrill Lynch; NatCity Investments; and SBK-Brooks Investment Corp.
|
| Rating: | Moody's: Aaa/VMIG1
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 27
|
|
|
| Series 2008F
|
| Maturity | Type | Coupon | Price
|
| 2009 | Serial | 2.00% | Par
|
| 2010 | Serial | 2.55% | Par
|
| 2011 | Serial | 3.10% | Par
|
| 2012 | Serial | 3.45% | Par
|
| 2013 | Serial | 3.70% | Par
|
| 2014 | Serial | 3.90% | Par
|
| 2015 | Serial | 4.05% | Par
|
| 2016 | Serial | 4.25% | Par
|
| 2017 | Serial | 4.40% | Par
|
| 2018 | Serial | 4.50% | Par
|
| 2028 | Term | 5.25% | Par
|
| 2033 | Term | 5.45% | Par
|
| 2039 | Term | 5.50% | Par
|
|
|
| Series 2008G
|
| Maturity | Type | Coupon | Price
|
| 2024 | Term | 5.625% | Par
|
|
|
| Series 2008H
|
| Maturity | Type | Coupon | Price
|
| 2039 | Term | Weekly | Par
|
|
|
| Series 2008I
|
| Maturity | Type | Coupon | Price
|
| 2039 | Term | Weekly | Par
|
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