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Tennessee Housing to price $50 million in homeownership program bonds
By Sheri Kasprzak
New York, July 15 - The Tennessee Housing Development Agency plans to price $50 million in series 2008A homeownership program bonds, said a preliminary official statement released Tuesday.
The offering includes $44.325 million in series 2008A2 bonds and $5.675 million in series 2008B2.
Merrill Lynch and Morgan Keegan are the lead managers for the negotiated sale.
The 2008A2 bonds are due from 2010 to 2018 with term bonds due 2022 and 2027. The 2008B2 bonds are due 2013 and 2027.
Proceeds will be used for the agency's loan fund and for a deposit to a debt service reserve fund.
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