By Sheri Kasprzak
New York, Feb. 8 - The Texas Department of Housing and Community Affairs priced $59.62 million of series 2011A non-AMT residential mortgage revenue bonds, said a pricing sheet.
The bonds were sold through Morgan Keegan & Co. Inc. and J.P. Morgan Securities LLC with George K. Baum & Co., Morgan Stanley & Co. Inc., Fidelity Capital Markets, FirstSouthwest Co. and Piper Jaffray & Co. as the co-managers.
The bonds are due 2012 to 2022 with term bonds due in 2026 and 2029. The serial coupons range from 0.7% to 4.55%, all priced at par. The 2026 bonds have a 5.05% coupon priced at par, and the 2029 bonds have a 5% coupon priced at par.
Proceeds will be used to fund mortgage loans.
Based in Austin, Texas, the department provides mortgage loans and other services to low- to moderate-income Texans.
| Issuer: | Texas Department of Housing and Community Affairs
|
| Issue: | Series 2011A non-AMT residential mortgage revenue bonds
|
| Amount: | $59.62 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co. Inc. and J.P. Morgan Securities LLC (lead), George K. Baum & Co., Morgan Stanley & Co. Inc., Fidelity Capital Markets, FirstSouthwest Co. and Piper Jaffray & Co. (co-managers)
|
| Pricing date: | Feb. 8
|
| Settlement date: | March 10
|
|
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 0.70% | 100
|
| 2012 | Serial | 0.90% | 100
|
| 2013 | Serial | 1.25% | 100
|
| 2013 | Serial | 1.40% | 100
|
| 2014 | Serial | 1.80% | 100
|
| 2014 | Serial | 1.90% | 100
|
| 2015 | Serial | 2.35% | 100
|
| 2015 | Serial | 2.45% | 100
|
| 2016 | Serial | 2.80% | 100
|
| 2016 | Serial | 2.90% | 100
|
| 2017 | Serial | 3.10% | 100
|
| 2017 | Serial | 3.20% | 100
|
| 2018 | Serial | 3.50% | 100
|
| 2018 | Serial | 3.60% | 100
|
| 2019 | Serial | 3.875% | 100
|
| 2019 | Serial | 3.95% | 100
|
| 2020 | Serial | 4.125% | 100
|
| 2020 | Serial | 4.125% | 100
|
| 2021 | Serial | 4.375% | 100
|
| 2021 | Serial | 4.375% | 100
|
| 2022 | Serial | 4.55% | 100
|
| 2022 | Serial | 4.55% | 100
|
| 2026 | Term | 5.05% | 100
|
| 2029 | Term | 5% | 100
|
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