Tennessee Housing expects to sell $215.91 million bond offering

By Sheri Kasprzak

New York, April 11 - The Tennessee Housing Development Agency is expected to price $215,905,000 of series 2013 residential finance program bonds, according to a preliminary official statement.

The offering includes $27.92 million of series 2013-1A AMT bonds, $47,985,000 of series 2013-1B non-AMT bonds and $140 million of series 2013-1C non-AMT bonds.

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

The 2013-1A bonds are due 2014 to 2019. The 2013-1B bonds are due 2023 to 2025 with a term bond due in 2031. The 2013-1C bonds are due 2019 to 2023 with term bonds due in 2038 and 2043.

Proceeds will be used to make qualified mortgage program loans.

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