Tennessee Housing agency to sell $400 million finance program bonds

By Cristal Cody

Tupelo, Miss., Nov. 25 -The Tennessee Housing Development Agency plans to sell $400 million in housing finance program bonds, according to a preliminary official statement and placement memorandum.

The sale includes $40 million in series 2009A1 bonds, $60 million in series 2009A2 bonds and $300 million in series 2009B bonds.

The agency plans to privately place the series 2009A2 and 2009B bonds, according to the statement.

The series 2009A1 bonds will include $24.335 million in serial bonds due 2011 to 2021 and $15.665 million in terms due 2024 and 2027.

The series 2009A2 bonds are due 2040 and the series 2009B bonds are due 2041.

Morgan Keegan & Co., Inc. will be the senior manager of the negotiated sale.

The co-managers are RBC Capital Markets Corp., Merrill Lynch & Co., Citigroup Global Markets Inc., Raymond James & Associates, Inc., M.R. Beal & Co., and Duncan-Williams, Inc.

The proceeds will be used for fund deposits.

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