Published on 11/23/2015 in the Prospect News Municipals Daily.
New Issue: Wisconsin Housing brings to market $73.17 million housing revenue bonds
By Sheri Kasprzak
New York, Nov. 23 – The Wisconsin Housing and Economic Development Authority sold $73.17 million of series 2015 housing revenue bonds, according to a pricing sheet.
The bonds (Aa3/AA/) were sold through BofA Merrill Lynch.
The deal included $9.69 million of series 2015A non-AMT bonds, $25,225,000 of series 2015B AMT bonds and $38,255,000 of series 2015C non-AMT bonds.
The 2015A bonds are due 2016 to 2026 with term bonds due in 2030, 2035, 2040, 2046 and 2052. The serial coupons range from 0.3% to 3.125% all priced at par. The 2030 bonds have a 3.625% coupon, the 2035 bonds have a 3.875% coupon, and the 2040 bonds have a 4% coupon, all priced at par. The 2046 bonds have a 4.125% coupon, and the 2052 bonds have a 4.25% coupon, both priced at par.
The 2015B bonds are due 2016 to 2026 with term bonds due in 2030, 2035, 2040 and 2045. The serial coupons range from 0.55% to 3.5% all priced at par. The 2030 bonds have a 4% coupon, the 2035 bonds have a 4.2% coupon, the 2040 bonds have a 4.35% coupon, and the 2045 bonds have a 4.5% coupon, all priced at par.
The 2015C bonds are due 2016 to 2026 with term bonds due in 2030, 2035, 2040 and 2043. The serial coupons range from 0.3% to 3.125% all priced at par. The 2030 bonds have a 3.625% coupon, the 2035 bonds have a 3.875% coupon, the 2040 bonds have a 4% coupon, and the 2043 bonds have a 4.1% coupon, all priced at par.
Proceeds will be used to finance housing loans.
| Issuer: | Wisconsin Housing and Economic Development Authority
|
| Issue: | Series 2015 housing revenue bonds
|
| Amount: | $73.17 million
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 30
|
|
|
| $9.69 million series 2015A non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $10,000 | 2016 | Serial | 0.30% | 100 | 0.30%
|
| $15,000 | 2016 | Serial | 0.50% | 100 | 0.50%
|
| $10,000 | 2017 | Serial | 0.875% | 100 | 0.875%
|
| $40,000 | 2017 | Serial | 1% | 100 | 1.00%
|
| $60,000 | 2018 | Serial | 1.125% | 100 | 1.125%
|
| $55,000 | 2018 | Serial | 1.25% | 100 | 1.25%
|
| $60,000 | 2019 | Serial | 1.40% | 100 | 1.40%
|
| $60,000 | 2019 | Serial | 1.55% | 100 | 1.55%
|
| $65,000 | 2020 | Serial | 1.70% | 100 | 1.70%
|
| $65,000 | 2020 | Serial | 1.875% | 100 | 1.875%
|
| $65,000 | 2021 | Serial | 2% | 100 | 2.00%
|
| $65,000 | 2021 | Serial | 2.125% | 100 | 2.125%
|
| $70,000 | 2022 | Serial | 2.25% | 100 | 2.25%
|
| $70,000 | 2022 | Serial | 2.30% | 100 | 2.30%
|
| $70,000 | 2023 | Serial | 2.50% | 100 | 2.50%
|
| $75,000 | 2023 | Serial | 2.55% | 100 | 2.55%
|
| $75,000 | 2024 | Serial | 2.70% | 100 | 2.70%
|
| $80,000 | 2024 | Serial | 2.75% | 100 | 2.75%
|
| $80,000 | 2025 | Serial | 2.875% | 100 | 2.875%
|
| $80,000 | 2025 | Serial | 3% | 100 | 3.00%
|
| $80,000 | 2026 | Serial | 3.125% | 100 | 3.125%
|
| $85,000 | 2026 | Serial | 3.125% | 100 | 3.125%
|
| $755,000 | 2030 | Term | 3.625% | 100 | 3.625%
|
| $1.17 million | 2035 | Term | 3.875% | 100 | 3.875%
|
| $1,475,000 | 2040 | Term | 4% | 100 | 4.00%
|
| $2.3 million | 2046 | Term | 4.125% | 100 | 4.125%
|
| $2,655,000 | 2052 | Term | 4.25% | 100 | 4.25%
|
|
|
| $25,225,000 series 2015B AMT bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $235,000 | 2016 | Serial | 0.55% | 100 | 0.55%
|
| $245,000 | 2016 | Serial | 0.80% | 100 | 0.80%
|
| $245,000 | 2017 | Serial | 1.10% | 100 | 1.10%
|
| $255,000 | 2017 | Serial | 1.30% | 100 | 1.30%
|
| $265,000 | 2018 | Serial | 1.50% | 100 | 1.50%
|
| $270,000 | 2018 | Serial | 1.65% | 100 | 1.65%
|
| $275,000 | 2019 | Serial | 1.75% | 100 | 1.75%
|
| $275,000 | 2019 | Serial | 1.90% | 100 | 1.90%
|
| $285,000 | 2020 | Serial | 2.05% | 100 | 2.05%
|
| $300,000 | 2020 | Serial | 2.20% | 100 | 2.20%
|
| $295,000 | 2021 | Serial | 2.35% | 100 | 2.35%
|
| $310,000 | 2021 | Serial | 2.50% | 100 | 2.50%
|
| $325,000 | 2022 | Serial | 2.60% | 100 | 2.60%
|
| $325,000 | 2022 | Seral | 2.65% | 100 | 2.65%
|
| $550,000 | 2023 | Serial | 2.85% | 100 | 2.85%
|
| $560,000 | 2023 | Serial | 2.90% | 100 | 2.90%
|
| $570,000 | 2024 | Serial | 3.05% | 100 | 3.05%
|
| $590,000 | 2024 | Serial | 3.10% | 100 | 3.10%
|
| $595,000 | 2025 | Serial | 3.20% | 100 | 3.20%
|
| $620,000 | 2025 | Serial | 3.35% | 100 | 3.35%
|
| $625,000 | 2026 | Seral | 3.50% | 100 | 3.50%
|
| $645,000 | 2026 | Serial | 3.50% | 100 | 3.50%
|
| $5.21 million | 2030 | Term | 4.00% | 100 | 4.00%
|
| $5,885,000 | 2035 | Term | 4.2% | 100 | 4.20%
|
| $3.48 million | 2040 | Term | 4.35% | 100 | 4.35%
|
| $1.99 million | 2045 | Term | 4.5% | 100 | 4.50%
|
|
|
| $38,255,000 series 2015C non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $595,000 | 2016 | Serial | 0.30% | 100 | 0.30%
|
| $615,000 | 2016 | Serial | 0.50% | 100 | 0.50%
|
| $625,000 | 2017 | Serial | 0.875% | 100 | 0.875%
|
| $645,000 | 2017 | Serial | 1% | 100 | 1.00%
|
| $650,000 | 2018 | Serial | 1.125% | 100 | 1.125%
|
| $670,000 | 2018 | Serial | 1.25% | 100 | 1.25%
|
| $685,000 | 2019 | Serial | 1.40% | 100 | 1.40%
|
| $700,000 | 2019 | Serial | 1.55% | 100 | 1.55%
|
| $720,000 | 2020 | Serial | 1.70% | 100 | 1.70%
|
| $735,000 | 2020 | Serial | 1.875% | 100 | 1.875%
|
| $750,000 | 2021 | Serial | 2% | 100 | 2.00%
|
| $770,000 | 2021 | Serial | 2.125% | 100 | 2.125%
|
| $780,000 | 2022 | Serial | 2.25% | 100 | 2.25%
|
| $800,000 | 2022 | Serial | 2.30% | 100 | 2.30%
|
| $820,000 | 2023 | Serial | 2.50% | 100 | 2.50%
|
| $850,000 | 2023 | Serial | 2.55% | 100 | 2.55%
|
| $860,000 | 2024 | Serial | 2.70% | 100 | 2.70%
|
| $880,000 | 2024 | Serial | 2.75% | 100 | 2.75%
|
| $905,000 | 2025 | Serial | 2.875% | 100 | 2.875%
|
| $920,000 | 2025 | Serial | 3% | 100 | 3.00%
|
| $915,000 | 2026 | Serial | 3.125% | 100 | 3.125%
|
| $910,000 | 2026 | Serial | 3.125% | 100 | 3.125%
|
| $8.12 million | 2030 | Term | 3.625% | 100 | 3.625%
|
| $7,985,000 | 2035 | Term | 3.875% | 100 | 3.875%
|
| $3,755,000 | 2040 | Term | 4% | 100 | 4.00%
|
| $1,595,000 | 2043 | Term | 4.1% | 100 | 4.10%
|
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