New Issue: Arkansas Development sells $57.88 million 3.1% mortgage revenue bonds

By Sheri Kasprzak

New York, June 14 - The Arkansas Development Finance Authority sold $57,877,249 of series 2013A single-family mortgage revenue bonds, according to a pricing sheet.

The bonds (/AA+/) were sold through Stephens Inc.

The bonds are due July 1, 2043 and have a 3.1% coupon priced at par.

Proceeds will be used to purchase $64.61 million of series 2013A collateral.

Issuer:	Arkansas Development Finance Authority
Issue:	Series 2013A single-family mortgage revenue bonds
Amount:	$57,877,249
Maturity:	July 1, 2043
Coupon:	3.1%
Price:	100
Yield:	3.1%
Type:	Negotiated
Underwriters:	Stephens Inc. (lead), Crews & Associates Inc., Edward D. Jones & Co. LP and Raymond James/Morgan Keegan (co-managers)
Rating:	Standard & Poor's: AA+
Pricing date:	June 12
Settlement date:	June 26

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