Texas Department of Housing gives details of $102.61 million in bonds

By Sheri Kasprzak

New York, July 24 - The Texas Department of Housing and Community Affairs is set to price $102.605 million in series 2009 residential mortgage revenue bonds on Wednesday, according to a preliminary official statement.

The sale includes $80 million in series 2009A non-AMT bonds and $22.605 million in series 2009B AMT bonds.

The bonds (Aaa/AAA/) will be sold through lead manager J.P. Morgan Securities Inc. with Loop Capital Markets LLC, Merrill Lynch & Co. Inc. and Morgan Stanley & Co. Inc. as the co-managers.

The 2009A bonds are due 2011 to 2019 with term bonds due 2024, 2029, 2034, 2039 and 2041. The 2009B bonds are due 2010 to 2019 with a term bond due 2031.

Proceeds will be used to make single-family mortgage loans.

The Texas Department of Housing and Community Affairs is located in Austin, Texas.

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