Published on 8/18/2011 in the Prospect News Municipals Daily.
New Issue: Ohio Housing Finance sells $70 million single-family mortgage bonds
By Sheri Kasprzak
New York, Aug. 18 - The Ohio Housing Finance Authority priced $70 million of series 2011-2 non-AMT single-family mortgage revenue bonds on Thursday, according to a pricing sheet.
The bonds (Aaa) were sold through Barclays Capital Inc. The co-managers included Citigroup Global Markets Inc., George K. Baum & Co. Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, CastleOak Securities LLC, Edward D. Jones & Co. LP, Fifth Third Securities Inc., KeyBanc Capital Markets LLC and PNC Capital Markets LLC.
The bonds are due 2012 to 2022 with term bonds due in 2025 and 2028. The serial coupons range from 0.5% to 3.55%. The 2025 bonds have a 4% coupon priced at par, and the 2028 bonds have a 4.5% coupon priced at 125.36.
Proceeds will be used to make mortgage loans.
| Issuer: | Ohio Housing Finance Authority
|
| Issue: | Series 2011-2 non-AMT single-family mortgage revenue bonds
|
| Amount: | $70 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. (lead), Citigroup Global Markets Inc., George K. Baum & Co. Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, CastleOak Securities LLC, Edward D. Jones & Co. LP, Fifth Third Securities Inc., KeyBanc Capital Markets LLC and PNC Capital Markets LLC (co-managers)
|
| Rating: | Moody's: Aaa
|
| Pricing date: | Aug. 18
|
| Settlement date: | Sept. 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.01 million | 2012 | Serial | 0.50% | 100
|
| $2.02 million | 2013 | Serial | 0.65% | 100
|
| $2.015 million | 2013 | Serial | 0.75% | 100
|
| $2.04 million | 2014 | Serial | 1% | 100
|
| $2.05 million | 2014 | Serial | 1.1% | 100
|
| $2.065 million | 2015 | Serial | 1.3% | 100
|
| $2.08 million | 2015 | Serial | 1.4% | 100
|
| $2.14 million | 2016 | Serial | 1.8% | 100
|
| $1.5 million | 2016 | Serial | 1.9% | 100
|
| $2.215 million | 2017 | Serial | 2.25% | 100
|
| $1.57 million | 2017 | Serial | 2.35% | 100
|
| $2.27 million | 2018 | Serial | 2.6% | 100
|
| $1.63 million | 2018 | Serial | 2.7% | 100
|
| $2.525 million | 2019 | Serial | 2.9% | 100
|
| $2.095 million | 2019 | Serial | 5% | 114.75
|
| $2.705 million | 2020 | Serial | 3.15% | 100
|
| $1.325 million | 2020 | Serial | 3.2% | 100
|
| $335,000 | 2020 | Serial | 5% | 114.603
|
| $1.895 million | 2021 | Serial | 3.3% | 100
|
| $1.92 million | 2021 | Serial | 3.3% | 100
|
| $1.96 million | 2022 | Serial | 3.55% | 100
|
| $1.875 million | 2022 | Serial | 3.55% | 100
|
| $12.64 million | 2025 | Term | 4% | 100
|
| $15.12 million | 2028 | Term | 4.5% | 125.36
|
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