Tennessee Housing Development coordinates $122 million bond offering

By Sheri Kasprzak

New York, Oct. 21 - The Tennessee Housing Development Agency is slated to come to market during the week of Oct. 21 with $122 million of series 2013 residential finance program bonds, according to a preliminary official statement.

The offering includes $32 million of series 2013A AMT bonds and $90 million of series 2013B non-AMT bonds.

The 2013A bonds are due 2014 to 2017 with a term bond due in 2043. The 2013B bonds are due 2018 to 2024 with term bonds due in 2028, 2033 and 2043.

The bonds (Aa1/AA+/) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are Raymond James/Morgan Keegan, RBC Capital Markets LLC, J.P. Morgan Securities LLC, Wells Fargo Securities LLC and Wiley Bros.-Aintree Capital LLC.

Proceeds will be used to finance housing loans, as well as to refund the agency's series 2004-2 housing bonds.

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