New Issue: Washington State Housing brings $94.24 million nonprofit housing bonds

By Sheri Kasprzak

New York, Dec. 14 - The Washington State Housing Finance Commission sold $94.24 million of series 2012 nonprofit housing revenue and revenue refunding bonds, according to a pricing sheet.

The offering included $81.44 million of series 2012A fixed-rate bonds, $5 million of series 2012B adjustable-rate bonds and $7.8 million of series 2012C temporary fixed-rate bonds.

The 2012A bonds are due Oct. 1, 2022, Oct. 1, 2032 and Oct. 1, 2047. The 2022 bonds have a 6% coupon priced at par and the 2032 bonds have a 6.5% coupon priced at par. The 2047 bonds have a 6.75% coupon priced at par.

The 2012B bonds are due Oct. 1, 2047, and bear interest at the weekly rate priced at par.

The 2012C bonds are due Oct. 1, 2017, and have a 5% coupon priced at par.

The bonds were sold through Cain Brothers Inc. and BB&T Capital Markets LLC.

Proceeds will be used to refund debt.

Issuer:	Washington State Housing Finance Corp.
Issue:	Series 2012 nonprofit housing revenue and refunding bonds
Amount:	$94.24 million
Type:	Negotiated
Underwriters:	Cain Brothers Inc. and BB&T Capital Markets LLC
Pricing date:	Dec. 13
Settlement date:	Dec. 27
$81.44 million series 2012A fixed-rate bonds
Amount	Maturity	Type	Coupon	Price
$6.7 million	Oct. 1, 2022	Term	6%	100
$16,265,000	Oct. 1, 2032	Term	6.5%	100
$58,475,000	Oct. 1, 2047	Term	6.75%	100
$5 million series 2012B adjustable-rate bonds
Maturity	Type	Coupon	Price
Oct. 1, 2047	Term	Weekly	100
$7.8 million series 2012C temporary fixed-rate bonds
Maturity	Type	Coupon	Price
Oct. 1, 2017	Term	5%	100

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