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Published on 3/8/2012 in the Prospect News Municipals Daily.

New Issue: Massachusetts Housing prices $83.68 million single family housing revenue bonds

By Sheri Kasprzak

New York, March 8 - The Massachusetts Housing Finance Agency sold $83.68 million of single family housing revenue bonds, according to a pricing sheet.

The deal includes $38,425,000 of series 157 AMT bonds, $10,255,000 of series 158 non-AMT bonds and $35 million of series 158 non-AMT bonds.

The bonds were sold through Morgan Stanley & Co. LLC, Barclays Capital Inc. and Bank of America Merrill Lynch.

The co-managers were Citigroup Global Markets Inc.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; CastleOak Securities LP; Corby Capital Markets Inc.; Eastern Bank Capital Markets; Fidelity Capital Markets Inc.; George K. Baum & Co.; Janney Montgomery Scott LLC; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co.; Ramirez & Co. Inc.; Raymond James & Associates Inc.; Rice Financial Products Co.; Siebert Brandford Shank & Co. LLC; Wells Fargo Securities LLC; and Williams Capital Group LP.

The series 157 bonds are due 2012 and 2016 to 2023 with a term bond due in 2027. The serial coupons range from 0.5% to 3.9%, all priced at par. The 2027 bonds have a 4.35% coupon priced at par.

The series 158 bonds are due 2013 to 2017 with 0.4% to 1.5% coupons, all priced at par.

The series 159 bonds are due 2015 to 2023 with term bonds due in 2026 and 2032. The serial coupons range from 1.05% to 3.15%, all priced at par. The 2026 bonds have a 3.7% coupon priced at par, and the 2032 bonds have a 4.05% coupon priced at par.

Proceeds will fund single family housing loans.

Issuer:Massachusetts Housing Finance Agency
Issue:Single family housing revenue bonds
Amount:$83.68 million
Type:Negotiated
Underwriters:Morgan Stanley & Co. LLC, Barclays Capital Inc. and Bank of America Merrill Lynch (lead); Citigroup Global Markets Inc.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; CastleOak Securities LP; Corby Capital Markets Inc.; Eastern Bank Capital Markets; Fidelity Capital Markets Inc.; George K. Baum & Co.; Janney Montgomery Scott LLC; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co.; Ramirez & Co. Inc.; Raymond James & Associates Inc.; Rice Financial Products Co.; Siebert Brandford Shank & Co. LLC; Wells Fargo Securities LLC; and Williams Capital Group LP (co-managers)
Pricing date:March 8
Settlement date:March 28
$38,425,000 series 157 AMT bonds
AmountMaturityTypeCouponPrice
$375,0002012Serial0.5%100
$525,0002016Serial1.9%100
$1.05 million2016Serial2%100
$1,205,0002017Serial2.15%100
$2,085,0002017Serial2.25%100
$2.38 million2018Serial2.6%100
$2,375,0002018Serial2.65%100
$2.35 million2019Serial2.9%100
$2.34 million2019Serial3%100
$2,325,0002020Serial3.3%100
$2.28 million2020Serial3.35%100
$2,255,0002021Serial3.6%100
$2,245,0002021Serial3.65%100
$1,965,0002022Serial3.8%100
$1.95 million2022Serial3.8%100
$2,215,0002023Serial3.9%100
$2,195,0002023Serial3.9%100
$6.31 million2027Term4.35%100
$10,255,000 series 158 non-AMT bonds
AmountMaturityTypeCouponPrice
$1.86 million2013Serial0.4%100
$1.84 million2013Serial0.55%100
$1.83 million2014Serial0.7%100
$1.82 million2014Serial0.8%100
$905,0002015Serial1.05%100
$900,0002015Serial1.15%100
$225,0002016Serial1.25%100
$875,0002017Serial1.5%100
$35 million series 159 non-AMT bonds
AmountMaturityTypeCouponPrice
$315,0002015Serial1.05%100
$325,0002015Serial1.15%100
$330,0002016Serial1.25%100
$340,0002016Serial1.35%100
$345,0002017Serial1.5%100
$355,0002017Serial1.6%100
$360,0002018Serial1.95%100
$370,0002018Serial2%100
$380,0002019Serial2.25%100
$385,0002019Serial2.35%100
$390,0002020Serial2.6%100
$400,0002020Serial2.65%100
$410,0002021Serial2.85%100
$420,0002021Serial2.9%100
$425,0002022Serial3.05%100
$440,0002022Serial3.05%100
$445,0002023Serial3.15%100
$455,0002023Serial3.15%100
$3,535,0002026Term3.7%100
$23,345,0002032Term4.05%100

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