Published on 4/15/2015 in the Prospect News Municipals Daily.
New Issue: Georgia Housing and Finance prices $103.45 million of mortgage bonds
By Sheri Kasprzak
New York, April 15 – The Georgia Housing and Finance Authority priced $103,445,000 of series 2015A single-family mortgage bonds, according to a pricing sheet.
The bonds (/AAA/) were sold through Citigroup Global Markets Inc. and BofA Merrill Lynch.
The offering included $88.91 million of series 2015A-1 non-AMT bonds and $14,535,000 of series 2015A-2 AMT bonds.
The 2015A-1 bonds are due 2022 to 2026 with term bonds due in 2030, 2033, 2035, 2040 and 2045. The serial coupons range from 2.25% to 2.85%, all priced at par. The 2030 bonds have a 3.5% coupon, the 2033 bonds have a 3.65% coupon, the 2035 bonds have a 3.7% coupon and the 2040 bonds have a 3.8% coupon, all priced at par. The 2045 bonds have a 3.5% coupon priced at 107.278 to yield 1.95%.
The 2015A-2 bonds are due 2015 to 2022 with 0.35% to 2.5% coupons, all priced at par.
Proceeds will be used to finance single-family mortgage loans.
Issuer: | Georgia Housing and Finance Authority
|
Issue: | Series 2015A single-family mortgage bonds
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Amount: | $103,445,000
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Type: | Negotiated
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Underwriters: | Citigroup Global Markets Inc. and BofA Merrill Lynch (lead), J.P. Morgan Securities LLC, Raymond James/Morgan Keegan and RBC Capital Markets LLC (co-managers)
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Rating: | Standard & Poor’s: AAA
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Pricing date: | April 9
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Settlement date: | April 21
|
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$88.91 million series 2015A-1 non-AMT bonds
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$575,000 | 2022 | Serial | 2.25% | 100 | 2.25%
|
$1.27 million | 2022 | Serial | 2.30% | 100 | 2.30%
|
$1.3 million | 2023 | Serial | 2.45% | 100 | 2.45%
|
$1.32 million | 2023 | Serial | 2.50% | 100 | 2.50%
|
$1.34 million | 2024 | Serial | 2.60% | 100 | 2.60%
|
$1,425,000 | 2025 | Serial | 2.70% | 100 | 2.70%
|
$1,505,000 | 2026 | Serial | 2.85% | 100 | 2.85%
|
$1.48 million | 2026 | Serial | 2.85% | 100 | 2.85%
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$12.89 million | 2030 | Term | 3.50% | 100 | 3.50%
|
$11.05 million | 2033 | Term | 3.65% | 100 | 3.65%
|
$7.37 million | 2035 | Term | 3.70% | 100 | 3.70%
|
$22,025,000 | 2040 | Term | 3.80% | 100 | 3.80%
|
$22.57 million | 2045 | Term | 3.50% | 107.278 | 1.95%
|
|
$14,535,000 series 2015A-2 AMT bonds
|
Amount | Maturity | Type | Coupon | Price
|
$785,000 | 2015 | Serial | 0.35% | 100
|
$970,000 | 2016 | Serial | 0.55% | 100
|
$990,000 | 2016 | Serial | 0.75% | 100
|
$1.01 million | 2017 | Serial | 0.95% | 100
|
$1,035,000 | 2017 | Serial | 1.05% | 100
|
$1.05 million | 2018 | Serial | 1.4% | 100
|
$1,075,000 | 2018 | Serial | 1.5% | 100
|
$1,095,000 | 2019 | Serial | 1.8% | 100
|
$1,125,000 | 2019 | Serial | 1.9% | 100
|
$1.15 million | 2020 | Serial | 2% | 100
|
$1.17 million | 2020 | Serial | 2.1% | 100
|
$1,195,000 | 2021 | Serial | 2.25% | 100
|
$1,215,000 | 2021 | Serial | 2.35% | 100
|
$670,000 | 2022 | Serial | 2.5% | 100
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