Published on 8/14/2014 in the Prospect News Municipals Daily.
New Issue: Wyoming Community Development sells $79.42 million housing revenue debt
By Sheri Kasprzak
New York, Aug. 14 – The Wyoming Community Development Authority sold $79.42 million of series 2014 housing revenue bonds, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through senior manager BofA Merrill Lynch.
The deal included $44.8 million of series 2014-1 bonds, $9.62 million of series 2014-2 bonds and $25 million of series 2014-3 bonds.
The 2014-1 bonds are due 2017 to 2024 with term bonds due in 2027 and 2030. The serial coupons range from 1.125% to 3.35% all priced at par. The 2027 bonds have a 3.7% coupon and the 2030 bonds have a 3.95% coupon both priced at par.
The 2014-2 bonds are due 2015 to 2017 with a term bond due in 2034. The serial coupons range from 0.2% to 0.85% all priced at par. The 2034 bonds have a 3.875% coupon priced at par.
The 2014-3 bonds are due 2039 and 2044. The 2039 bonds have a 4.05% coupon, and the 2044 bonds have a 4.125% coupon, both priced at par.
Proceeds will be used to refund existing housing revenue bonds.
| Issuer: | Wyoming Community Development Authority
|
| Issue: | Series 2014 housing revenue bonds
|
| Amount: | $79.42 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), RBC Capital Markets LLC and Kaiser and Co. (co-managers)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 26
|
|
|
| $44.8 million series 2014-1 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $905,000 | 2017 | Serial | 1.125% | 100
|
| $1,665,000 | 2017 | Serial | 1.25% | 100
|
| $1.71 million | 2018 | Serial | 1.6% | 100
|
| $1,745,000 | 2018 | Serial | 1.7% | 100
|
| $1.79 million | 2019 | Serial | 2% | 100
|
| $1.84 million | 2019 | Serial | 2.1% | 100
|
| $1.88 million | 2020 | Serial | 2.35% | 100
|
| $1,935,000 | 2020 | Serial | 2.5% | 100
|
| $1.98 million | 2021 | Serial | 2.8% | 100
|
| $2.04 million | 2021 | Serial | 2.9% | 100
|
| $2,085,000 | 2022 | Serial | 3% | 100
|
| $2.14 million | 2022 | Serial | 3.1% | 100
|
| $2.19 million | 2023 | Serial | 3.2% | 100
|
| $2.25 million | 2023 | Serial | 3.25% | 100
|
| $2,315,000 | 2024 | Serial | 3.35% | 100
|
| $2,365,000 | 2024 | Serial | 3.35% | 100
|
| $6.75 million | 2027 | Term | 3.7% | 100
|
| $7,215,000 | 2030 | Term | 3.95% | 100
|
|
|
| $9.62 million series 2014-2 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,005,000 | 2015 | Serial | 0.2% | 100
|
| $2,695,000 | 2016 | Serial | 0.45% | 100
|
| $1,315,000 | 2016 | Serial | 0.55% | 100
|
| $1,115,000 | 2017 | Serial | 0.85% | 100
|
| $2.49 million | 2034 | Term | 3.875% | 100
|
|
|
| $25 million series 2014-3 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.15 million | 2039 | Term | 4.05% | 100
|
| $14.85 million | 2044 | Term | 4.125% | 100
|
|
|
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