Tennessee Housing readies $125 million residential program bond sale

By Sheri Kasprzak

New York, April 8 – The Tennessee Housing Development Agency is set to price $125 million of series 2016-1 residential program finance bonds on Thursday, according to a preliminary official statement.

The deal includes $24.06 million of series 2016-1A AMT bonds and $100.94 million of series 2016-1B 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, FTN Financial Capital Markets Inc., J.P. Morgan Securities LLC, J.J.B. Hilliard, W.L. Lyons LLC and Wells Fargo Securities LLC.

The 2016-1A bonds are due Jan.1, 2047.

The 2016-1B bonds are due 2017 to 2027 with term bonds due in 2031, 2036, 2038 and 2047.

Proceeds will be used to finance housing program loans to qualified Tennessee residents.

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