Utah Housing determines spreads for Dutch auction tender offer

By Angela McDaniels

Tacoma, Wash., June 22 - Utah Housing Corp. announced the clearing spreads for the Dutch auction tender offer that began May 18. The notes and their clearing spreads are noted in the table below.

The issuer said it will accept bonds tendered with no specified spread or tendered at a spread equal to or above the applicable clearing spread.

Utah Housing previously said it will determine the purchase prices for the bonds based on the MMD yield plus the clearing spread.

Those who tendered by the early deadline will receive a premium determined using the tender yield minus 5 basis points. The early deadline was 5 p.m. ET on June 12, extended from June 5.

The offer expired at 5 p.m. ET on June 19, extended from June 12. The settlement date will be July 15.

Barclays Capital Inc. (800 438-3242 or collect 212 528-7581) is the dealer manager. D.F. King & Co., Inc. (800 967-4612 and at dfking.com/uhc) is the information agent.

The public corporation is based in West Valley City, Utah.

Utah Housing tender offer

Bond Clearing spread

5.45% series 2008A1 notes due 2036 1%

5.5% series 2008D1 notes due 2028 2%

5% series 2006A1 notes due 2037 0.80%

4.95% series 2006A1 notes due 2028 1.17%

4.875% series 2006A1 notes due 2023 2.25%

4.85% series 2006B1 notes due 2026 2.25%

4.95% series 2006B1 notes due 2037 0.95%

5% series 2006B1 notes due 2031 2.25%

5% series 2006E1 notes due 2032 2.25%

5% series 2006F1 notes due 2032 0.56%

4.75% series 2006G1 notes due 2032 0.70%

4.7% series 2006G1 notes due 2028 2.25%

4.8% series 2006H1 notes due 2038 0.40%

4.8% series 2006H1 notes due 2032 0.62%

4.7% series 2006H1 notes due 2028 1.25%

4.75% series 2007A1 notes due 2035 0.34%

4.625% series 2007A1 notes due 2027 0.95%

5% series 2007B1 notes due 2035 2.25%

5% series 2007C1 notes due 2035 0.97%

4.85% series 2007C1 notes due 2027 0.75%

5.2% series 2007D1 notes due 2039 1.08%

5.25% series 2007D1 notes due 2036 1.37%

5.25% series 2007E1 notes due 2039 0.85%

5.2% series 2007E1 notes due 2028 1%

5.25% series 2007G1 notes due 2036 0.93%

5.45% series 2007H1 notes due 2036 1.05%

5.15% series 2007H1 notes due 2028 1.55%

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