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
|
| Amount | Maturity | Type | Coupon | Price
|
| $375,000 | 2012 | Serial | 0.5% | 100
|
| $525,000 | 2016 | Serial | 1.9% | 100
|
| $1.05 million | 2016 | Serial | 2% | 100
|
| $1,205,000 | 2017 | Serial | 2.15% | 100
|
| $2,085,000 | 2017 | Serial | 2.25% | 100
|
| $2.38 million | 2018 | Serial | 2.6% | 100
|
| $2,375,000 | 2018 | Serial | 2.65% | 100
|
| $2.35 million | 2019 | Serial | 2.9% | 100
|
| $2.34 million | 2019 | Serial | 3% | 100
|
| $2,325,000 | 2020 | Serial | 3.3% | 100
|
| $2.28 million | 2020 | Serial | 3.35% | 100
|
| $2,255,000 | 2021 | Serial | 3.6% | 100
|
| $2,245,000 | 2021 | Serial | 3.65% | 100
|
| $1,965,000 | 2022 | Serial | 3.8% | 100
|
| $1.95 million | 2022 | Serial | 3.8% | 100
|
| $2,215,000 | 2023 | Serial | 3.9% | 100
|
| $2,195,000 | 2023 | Serial | 3.9% | 100
|
| $6.31 million | 2027 | Term | 4.35% | 100
|
|
|
| $10,255,000 series 158 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.86 million | 2013 | Serial | 0.4% | 100
|
| $1.84 million | 2013 | Serial | 0.55% | 100
|
| $1.83 million | 2014 | Serial | 0.7% | 100
|
| $1.82 million | 2014 | Serial | 0.8% | 100
|
| $905,000 | 2015 | Serial | 1.05% | 100
|
| $900,000 | 2015 | Serial | 1.15% | 100
|
| $225,000 | 2016 | Serial | 1.25% | 100
|
| $875,000 | 2017 | Serial | 1.5% | 100
|
|
|
| $35 million series 159 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $315,000 | 2015 | Serial | 1.05% | 100
|
| $325,000 | 2015 | Serial | 1.15% | 100
|
| $330,000 | 2016 | Serial | 1.25% | 100
|
| $340,000 | 2016 | Serial | 1.35% | 100
|
| $345,000 | 2017 | Serial | 1.5% | 100
|
| $355,000 | 2017 | Serial | 1.6% | 100
|
| $360,000 | 2018 | Serial | 1.95% | 100
|
| $370,000 | 2018 | Serial | 2% | 100
|
| $380,000 | 2019 | Serial | 2.25% | 100
|
| $385,000 | 2019 | Serial | 2.35% | 100
|
| $390,000 | 2020 | Serial | 2.6% | 100
|
| $400,000 | 2020 | Serial | 2.65% | 100
|
| $410,000 | 2021 | Serial | 2.85% | 100
|
| $420,000 | 2021 | Serial | 2.9% | 100
|
| $425,000 | 2022 | Serial | 3.05% | 100
|
| $440,000 | 2022 | Serial | 3.05% | 100
|
| $445,000 | 2023 | Serial | 3.15% | 100
|
| $455,000 | 2023 | Serial | 3.15% | 100
|
| $3,535,000 | 2026 | Term | 3.7% | 100
|
| $23,345,000 | 2032 | Term | 4.05% | 100
|
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