Tennessee Housing Development to sell $75 million home owners bonds

By Aaron Hochman-Zimmerman

New York, Aug. 21 - The Tennessee Housing Development Agency will sell $75 million in series 2009-2 home owners program bonds (Aa1/AA+ expected/) on Aug. 27, according to Wayne Beard, director of finance.

The bonds will carry serial maturities from 2010 to 2021 with term bonds due 2024 and 2027. A planned amortization class bond will be due 2030.

Merrill Lynch & Co. will act as underwriter for the negotiated deal.

Proceeds will be used to offer home loans.

The Tennessee Housing Development Agency is located in Nashville.

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