Published on 9/9/2011 in the Prospect News Municipals Daily.
New Issue: Pennsylvania Housing prices $81.71 million mortgage revenue bonds
By Sheri Kasprzak
New York, Sept. 9 - The Pennsylvania Housing Finance Agency sold $81.705 million of series 2011-113 single-family mortgage revenue bonds, according to a pricing sheet.
The bonds were sold through J.P. Morgan Securities LLC with Janney Montgomery Scott LLC and Morgan Stanley & Co. LLC as the co-managers.
The bonds are due 2012 to 2022 with term bonds due in 2026, 2031, 2037 and 2041. The serial coupons range from 0.5% to 3.5%. The 2026 bonds have a 4.125% coupon priced at par, and the 2031 bonds have a 4.625% coupon priced at par. The 2037 bonds have a 4.85% coupon priced at par, and the 2041 bonds have a 4% coupon priced at 117.503.
Proceeds will be used to finance single-family mortgage loans for qualified Pennsylvania residents.
| Issuer: | Pennsylvania Housing Finance Agency
|
| Issue: | Series 2011-113 single-family mortgage revenue bonds
|
| Amount: | $81.705 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Janney Montgomery Scott LLC and Morgan Stanley & Co. LLC (co-managers)
|
| Pricing date: | Sept. 9
|
| Settlement date: | Sept. 22
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $550,000 | 2012 | Serial | 0.5% | 100
|
| $575,000 | 2012 | Serial | 0.6% | 100
|
| $590,000 | 2013 | Serial | 0.85% | 100
|
| $605,000 | 2013 | Serial | 1% | 100
|
| $625,000 | 2014 | Serial | 1.15% | 100
|
| $635,000 | 2014 | Serial | 1.25% | 100
|
| $660,000 | 2015 | Serial | 1.45% | 100
|
| $680,000 | 2015 | Serial | 1.55% | 100
|
| $695,000 | 2016 | Serial | 1.9% | 100
|
| $710,000 | 2016 | Serial | 3% | 105.247
|
| $735,000 | 2017 | Serial | 2.2% | 100
|
| $750,000 | 2017 | Serial | 3.5% | 107.297
|
| $770,000 | 2018 | Serial | 2.55% | 100
|
| $795,000 | 2018 | Serial | 4% | 109.271
|
| $815,000 | 2019 | Serial | 2.9% | 100
|
| $840,000 | 2019 | Serial | 4% | 107.824
|
| $860,000 | 2020 | Serial | 3.15% | 100
|
| $885,000 | 2020 | Serial | 3.15% | 100
|
| $910,000 | 2021 | Serial | 3.3% | 100
|
| $930,000 | 2021 | Serial | 3.3% | 100
|
| $960,000 | 2022 | Serial | 3.5% | 100
|
| $985,000 | 2022 | Serial | 3.5% | 100
|
| $8.92 million | 2026 | Term | 4.125% | 100
|
| $14.23 million | 2031 | Term | 4.625% | 100
|
| $22.07 million | 2037 | Term | 4.85% | 100
|
| $19.925 million | 2041 | Term | 4% | 117.503
|
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