Published on 2/19/2014 in the Prospect News Municipals Daily.
New Issue: Georgia Housing and Finance prices $127.85 million of mortgage bonds
By Sheri Kasprzak
New York, Feb. 19 - The Georgia Housing and Finance Authority sold $127,845,000 of series 2014A single family mortgage bonds, said a pricing sheet. The deal was downsized from $156.11 million.
The bonds were sold through senior managers Citigroup Global Markets Inc. and BofA Merrill Lynch.
The deal included $50.17 million of series 2014A-1 non-AMT bonds, $35.13 million of series 2014A-2 AMT bonds, $1.88 million of series 2014A-3 non-AMT bonds and $40,665,000 of series 2014A-4 non-AMT bonds.
The 2014A-1 bonds are due 2029, 2034, 2038 and 2044. The 2029 bonds have a 3.9% coupon, the 2034 bonds have a 4.4% coupon, the 2038 bonds have a 4.55% coupon, and the 2044 bonds have a 4.7% coupon, all priced at par.
The 2014A-2 bonds are due 2014 to 2023 with a term bond due in 2026. The serial coupons range from 0.2% to 3.75%, all priced at par. The 2026 bonds have a 4% coupon priced at par.
The 2014A-3 bonds are due 2014 to 2017 with term bonds due in 2024 and 2028. The serial coupons range from 0.15% to 0.85%, all priced at par. The 2024 bonds have a 3.45% coupon, and the 2028 bonds have a 3.9% coupon priced at par.
The 2014A-4 bonds are due 2017 to 2025 with coupons from 0.8% to 3.55%, all priced at par.
Proceeds will be used to refund existing debt and to make mortgage loans to qualified Georgia residents.
| Issuer: | Georgia Housing and Finance Authority
|
| Issue: | Series 2014A single family mortgage bonds
|
| Amount: | $126,355,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and BofA Merrill Lynch (lead), Edward D. Jones & Co. LP, George K. Baum & Co. and Morgan Stanley & Co. LLC (co-managers)
|
| Pricing date: | Feb. 19
|
| Settlement date: | March 5
|
|
|
| $50.17 million series 2014A-1 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $14,275,000 | 2029 | Term | 3.9% | 100
|
| $22,735,000 | 2034 | Term | 4.4% | 100
|
| $10.26 million | 2038 | Term | 4.55% | 100
|
| $2.9 million | 2044 | Term | 4.7% | 100
|
|
|
| $35.13 million series 2014A-2 AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $50,000 | 2014 | Serial | 0.2% | 100
|
| $995,000 | 2014 | Serial | 0.3% | 100
|
| $1.17 million | 2015 | Serial | 0.4% | 100
|
| $1.25 million | 2015 | Serial | 0.5% | 100
|
| $670,000 | 2016 | Serial | 0.7% | 100
|
| $625,000 | 2016 | Serial | 0.8% | 100
|
| $1,115,000 | 2017 | Serial | 1.15% | 100
|
| $1,365,000 | 2017 | Serial | 1.3% | 100
|
| $1.39 million | 2018 | Serial | 1.8% | 100
|
| $1,425,000 | 2018 | Serial | 1.9% | 100
|
| $1,455,000 | 2019 | Serial | 2.25% | 100
|
| $1.49 million | 2019 | Serial | 2.35% | 100
|
| $1,525,000 | 2020 | Serial | 2.7% | 100
|
| $1,565,000 | 2020 | Serial | 2.8% | 100
|
| $1,595,000 | 2021 | Serial | 3.1% | 100
|
| $1.63 million | 2021 | Serial | 3.2% | 100
|
| $1.67 million | 2022 | Serial | 3.5% | 100
|
| $1.7 million | 2022 | Serial | 3.6% | 100
|
| $1,745,000 | 2023 | Serial | 3.7% | 100
|
| $1,765,000 | 2023 | Serial | 3.75% | 100
|
| $8,935,000 | 2026 | Term | 4% | 100
|
|
|
| $1.88 million series 2014A-3 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $135,000 | 2014 | Serial | 0.15% | 100
|
| $45,000 | 2015 | Serial | 0.3% | 100
|
| $605,000 | 2016 | Serial | 0.5% | 100
|
| $680,000 | 2016 | Serial | 0.6% | 100
|
| $220,000 | 2017 | Serial | 0.85% | 100
|
| $110,000 | 2024 | Term | 3.45% | 100
|
| $85,000 | 2028 | Term | 3.9% | 100
|
|
|
| $40,665,000 series 2014A-4 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.86 million | 2017 | Serial | 0.8% | 100
|
| $1.9 million | 2017 | Serial | 0.9% | 100
|
| $1,935,000 | 2018 | Serial | 1.3% | 100
|
| $1.99 million | 2018 | Serial | 1.4% | 100
|
| $2.02 million | 2019 | Serial | 1.7% | 100
|
| $2,075,000 | 2019 | Serial | 1.8% | 100
|
| $2.11 million | 2020 | Serial | 2.15% | 100
|
| $2.17 million | 2020 | Serial | 2.25% | 100
|
| $2,215,000 | 2021 | Serial | 2.5% | 100
|
| $2,265,000 | 2021 | Serial | 2.6% | 100
|
| $2.32 million | 2022 | Serial | 3% | 100
|
| $2.37 million | 2022 | Serial | 3.05% | 100
|
| $2,425,000 | 2023 | Serial | 3.15% | 100
|
| $2,485,000 | 2023 | Serial | 3.2% | 100
|
| $2,545,000 | 2024 | Serial | 3.45% | 100
|
| $2,595,000 | 2024 | Serial | 3.45% | 100
|
| $2.66 million | 2025 | Serial | 3.55% | 100
|
| $2,725,000 | 2025 | Serial | 3.55% | 100
|
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