By Sheri Kasprzak
New York, Oct. 6 - The Tennessee Housing Development Agency sold $65.29 million of series 2011C non-AMT housing finance program bonds, according to a pricing sheet.
The bonds (Aa2) were sold through Morgan Keegan & Co. Inc. The co-managers were Bank of America Merrill Lynch, RBC Capital Markets LLC, Citigroup Global Markets Inc., Raymond James & Associates Inc., M.R. Beal & Co. Inc. and Wiley Bros.-Aintree Capital LLC.
The bonds are due 2012 to 2022 with term bonds due in 2026, 2030 and 2034. The serial coupons range from 0.4% to 3.5%, all priced at par. The 2026 bonds have a 4% coupon priced at par, and the 2030 bonds have a 4.3% coupon priced at par. The 2034 bonds have a 3.4% coupon priced at par.
Proceeds will be used to make affordable housing loans.
| Issuer: | Tennessee Housing Development Agency
|
| Issue: | Series 2011C non-AMT housing finance program bonds
|
| Amount: | $65.29 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co. Inc. (lead), Bank of America Merrill Lynch, RBC Capital Markets LLC, Citigroup Global Markets Inc., Raymond James & Associates Inc., M.R. Beal & Co. Inc. and Wiley Bros.-Aintree Capital LLC (co-managers)
|
| Rating: | Moody's: Aa2
|
| Pricing date: | Oct. 6
|
| Settlement date: | Nov. 3
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.085 million | 2012 | Serial | 0.40% | 100
|
| $1.09 million | 2013 | Serial | 0.65% | 100
|
| $1.095 million | 2013 | Serial | 0.80% | 100
|
| $1.095 million | 2014 | Serial | 1% | 100
|
| $1.1 million | 2014 | Serial | 1.15% | 100
|
| $1.11 million | 2015 | Serial | 1.4% | 100
|
| $1.115 million | 2015 | Serial | 1.5% | 100
|
| $1.125 million | 2016 | Serial | 1.8% | 100
|
| $1.135 million | 2016 | Serial | 1.95% | 100
|
| $1.145 million | 2017 | Serial | 2.1% | 100
|
| $1.16 million | 2017 | Serial | 2.15% | 100
|
| $1.17 million | 2018 | Serial | 2.5% | 100
|
| $1.185 million | 2018 | Serial | 2.6% | 100
|
| $1.2 million | 2019 | Serial | 2.8% | 100
|
| $1.215 million | 2019 | Serial | 2.9% | 100
|
| $1.23 million | 2020 | Serial | 3.1% | 100
|
| $1.25 million | 2020 | Serial | 3.1% | 100
|
| $1.27 million | 2021 | Serial | 3.25% | 100
|
| $1.29 million | 2021 | Serial | 3.25% | 100
|
| $1.31 million | 2022 | Serial | 3.5% | 100
|
| $1.33 million | 2022 | Serial | 3.5% | 100
|
| $10.065 million | 2026 | Term | 4% | 100
|
| $14.555 million | 2030 | Term | 4.3% | 100
|
| $15.965 million | 2034 | Term | 3.4% | 100
|
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