By Cristal Cody
Springdale, Ark., May 13 - The Wyoming Community Development Authority priced $37 million of housing revenue bonds at par on Tuesday, the issuer told Prospect News.
The $37 million of series 2008-1 fixed rate bonds have serial maturities from 2009 through 2017 and term bonds in 2023, 2028 and 2035.
The bonds (Aa1/AA+/-) priced with 3.125% to 5.125% coupons for the serial maturities, said Scott Hoversland, director of finance.
The 2023 term bond priced with a 5.3% coupon; the 2028 term bond priced with a 5.45% coupon; and the 2035 term priced with a 5.6% coupon, he said.
The authority also plans to price $13 million of series 2008-2 variable rate bonds with an initial weekly interest rate on June 3, the date of closing, Hoversland said. The bonds are due Dec. 1, 2038.
Merrill Lynch & Co. is the senior manager of the negotiated sales. Co-managers are Kaiser and Co., Citigroup Global Markets and George K. Baum & Co.
Proceeds will be used to provide funds to purchase single-family mortgage loans and to refund retiring bonds.
| Issuer: | Wyoming Community Development Authority
|
| Issue: | Housing revenue bonds
|
| Amount: | $37 million
|
| Type: | Negotiated
|
| Pricing: | Par
|
| Coupons: | 3.125% to 5.125% serials; 2023 term, 5.3%; 2028 term, 5.45%; 2035 term, 5.6%
|
| Maturities: | 2009 to 2017 serials; term bonds due 2023, 2028 and 2035
|
| Underwriter: | Merrill Lynch & Co. (lead)
|
| Ratings: | Moody's: Aa1
|
| S&P: AA+
|
| Pricing date: | May 13
|
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