By Sheri Kasprzak
New York, May 12 - The Tennessee Housing Development Agency sold $74.71 million in series 2010 housing finance program bonds on Wednesday, according to a pricing sheet.
The sale included $56.86 million in series 2010A-1 non-AMT bonds and $17.85 million in series 2010A-2 AMT bonds.
The 2010A-1 bonds are due 2011 to 2021 with term bonds due 2024 and 2027. The serial coupons range from 0.6% to 4%, all priced at par. The 2024 bonds have a 4.2% coupon, priced at par, and the 2027 bonds have a 5% coupon, priced at 117.469.
The 2010A-2 bonds are due July 1, 2025 with a 4.2% coupon priced at par.
RBC Capital Markets Corp. was the senior manager. The co-managers were Morgan Keegan & Co. Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc., Raymond James & Associates Inc., M.R. Beal & Co. Inc. and Duncan-Williams Inc.
The proceeds will be used to finance housing loans.
The Nashville-based agency makes housing loans to qualified homebuyers.
| Issuer: | Tennessee Housing Development Agency
|
| Issue: | Series 2010 housing finance program bonds
|
| Amount: | $74.71 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets Corp. (lead); Morgan Keegan & Co. Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc., Raymond James & Associates Inc., M.R. Beal & Co. Inc. and Duncan-Williams Inc. (co-managers)
|
| Pricing date: | May 12
|
| Settlement date: | June 17
|
|
|
| Series 2010A-1
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 0.6% | 100
|
| 2011 | Serial | 0.7% | 100
|
| 2012 | Serial | 1.125% | 100
|
| 2012 | Serial | 1.25% | 100
|
| 2013 | Serial | 1.6% | 100
|
| 2013 | Serial | 1.7% | 100
|
| 2014 | Serial | 2% | 100
|
| 2014 | Serial | 2.05% | 100
|
| 2015 | Serial | 2.5% | 100
|
| 2015 | Serial | 2.55% | 100
|
| 2016 | Serial | 2.95% | 100
|
| 2016 | Serial | 3% | 100
|
| 2017 | Serial | 3.25% | 100
|
| 2017 | Serial | 3.3% | 100
|
| 2018 | Serial | 3.5% | 100
|
| 2018 | Serial | 3.5% | 100
|
| 2019 | Serial | 3.7% | 100
|
| 2019 | Serial | 3.7% | 100
|
| 2020 | Serial | 3.875% | 100
|
| 2020 | Serial | 3.875% | 100
|
| 2021 | Serial | 4% | 100
|
| 2021 | Serial | 4% | 100
|
| 2024 | Term | 4.2% | 100
|
| 2027 | Term | 5% | 117.469
|
|
|
| Series 2010A-2
|
| Maturity | Type | Coupon | Price
|
| 2025 | Term | 4.2% | 100
|
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