By Sheri Kasprzak
New York, Sept. 17 - The Pennsylvania Housing Finance Agency priced $191.905 million in series 105 single-family mortgage revenue bonds, according to a term sheet.
The sale included $1.04 million in series 105A non-AMT bonds, $57.47 million in series 105B non-AMT bonds and $133.395 million in series 105C non-AMT bonds.
The 105A bonds are due 2010 and have a 0.8% coupon, priced at par.
The 105B bonds are due 2010 to 2019 with coupons from 0.8% to 3.55%. A term bond due 2024 has a 4.25% coupon, also priced at par.
The 105C bonds are due 2024, 2029, 2034 and 2039. The 2024 bonds have a 4.25% coupon, priced at par, and the 2029 bonds have a 4.625% coupon, also priced at par. The 2034 bonds have a 4.875% coupon, priced at par, and the 2039 bonds have a 5% coupon, priced at par.
Merrill Lynch & Co. Inc. was the senior manager. The co-managers were Janney Montgomery Scott LLC, Jefferies & Co., PNC Capital Markets LLC and Wells Fargo Securities Inc.
Proceeds will be used to make single-family mortgage loans.
| Issuer: | Pennsylvania Housing Finance Agency
|
| Issue: | Series 105 single-family mortgage revenue bonds
|
| Amount: | $191.905 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch & Co. Inc. (lead), Janney Montgomery Scott LLC, Jefferies & Co., PNC Capital Markets LLC and Wells Fargo Securities Inc. (co-managers)
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 30
|
|
|
| Series 105A
|
| Maturity | Type | Coupon | Price
|
| 2010 | Term | 0.8% | Par
|
|
|
| Series 105B
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 0.8% | Par
|
| 2010 | Serial | 1% | Par
|
| 2011 | Serial | 1.15% | Par
|
| 2011 | Serial | 1.2% | Par
|
| 2012 | Serial | 1.65% | Par
|
| 2012 | Serial | 1.75% | Par
|
| 2013 | Serial | 2% | Par
|
| 2013 | Serial | 2% | Par
|
| 2014 | Serial | 2.3% | Par
|
| 2014 | Serial | 2.3% | Par
|
| 2015 | Serial | 2.65% | Par
|
| 2015 | Serial | 2.65% | Par
|
| 2016 | Serial | 2.9% | Par
|
| 2016 | Serial | 2.9% | Par
|
| 2017 | Serial | 3.2% | Par
|
| 2017 | Serial | 3.2% | Par
|
| 2018 | Serial | 3.4% | Par
|
| 2018 | Serial | 3.4% | Par
|
| 2019 | Serial | 3.55% | Par
|
| 2019 | Serial | 3.55% | Par
|
| 2024 | Term | 4.25% | Par
|
|
|
| Series 105C
|
| Maturity | Type | Coupon | Price
|
| 2024 | Term | 4.25% | Par
|
| 2029 | Term | 4.625% | Par
|
| 2034 | Term | 4.875% | Par
|
| 2039 | Term | 5% | Par
|
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