Tennessee Housing Development preps $150 million of residential bonds

By Sheri Kasprzak

New York, April 21 - The Tennessee Housing Development Agency is set to price $150 million of series 2014 residential finance program bonds, according to a preliminary official statement.

The offering includes $25,975,000 of series 2014-1A AMT bonds, $4,525,000 of series 2014-1B non-AMT bonds and $119.5 million of series 2014-1C non-AMT bonds.

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

The 2014-1A bonds are due 2015 to 2017 with a term bond due in 2039. The 2014-1B bonds are due 2015 to 2017. The 2014-1C bonds are due 2018 to 2025 with term bonds due in 2029, 2034 and 2039.

Proceeds will be used to finance single-family first-lien program loans.

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