Idaho Housing and Finance extends deadline in Dutch auction for bonds

By Jennifer Chiou

New York, June 1 - Idaho Housing and Finance Association announced the extension of the early participation date as well as the expiration of the offer to purchase for cash its outstanding bonds.

The early deadline is now 5 p.m. ET on June 5, prolonged from May 29.

The offer now ends at 5 p.m. ET on June 12, extended from June 5. It began on May 14.

The association invites bondholders to offer to sell their securities at purchase prices to be determined by a modified Dutch auction. It added that it will consider offers to sell bonds in the order of highest to lowest spreads.

Idaho Housing will determine the purchase price for each series and maturity of bonds based on a yield equal to the applicable MMD yield plus the clearing spread.

Those who tender by the early deadline will receive a premium determined using the tender yield minus 5 basis points.

The bonds that are eligible for participation are noted in the invitation to bondholders, a copy of which can be obtained from information agent and depositary D.F. King & Co., Inc. (800 967-4612). Barclays Capital Inc. is the dealer manager (800 438-3242 or call collect at 212 528-7581).

The association is based in Boise, Idaho.

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