By Sheri Kasprzak
New York, Jan. 15 – The Texas Housing and Community Affairs priced $91,245,000 of series 2016 single family mortgage revenue bonds, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through J.P. Morgan Securities LLC.
The deal included $31.51 million of series 2016A non-AMT bonds and $59,735,000 of series 2016B taxable refunding bonds.
The 2016A bonds are due March 1, 2046 and have a 3% coupon priced at par.
The 2016B bonds are due March 1, 2039 and have a 3.18% coupon priced at par.
Proceeds will be used to finance mortgage loans and refund existing debt.
| Issuer: | Texas Department of Housing and Community Affairs
|
| Issue: | Series 2016 single family mortgage revenue bonds
|
| Amount: | $91,245,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Pricing date: | Jan. 14
|
| Settlement date: | Feb. 24
|
|
|
| $31.51 million 2016A non-AMT bonds
|
| Maturity | Type | Coupon | Price
|
| March 1, 2046 | Term | 3% | 100
|
|
|
| $59,735,000 series 2016B taxable refunding bonds
|
| Maturity | Type | Coupon | Price
|
| March 1, 2039 | Term | 3.18% | 100
|
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