Published on 6/21/2012 in the Prospect News Municipals Daily.
New Issue: Colorado Housing sells $624.88 million unemployment compensation bonds
By Sheri Kasprzak
New York, June 21 - The Colorado Housing and Finance Authority priced $624.88 million of series 2012 unemployment compensation fund special revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold through Goldman, Sachs & Co.
The deal included $84.85 million of series 2012A tax-exempt bonds and $540.03 million of series 2012B taxable bonds.
The series 2012A bonds are due May 15, 2014, and have a 5% coupon priced at 108.51.
The 2012B bonds are due 2013 to 2017 with 0.45% to 1.85% coupons.
Proceeds will be used to repay an advance from the federal government to the state's unemployment compensation fund and recapitalize the fund.
| Issuer: | Colorado Housing and Finance Authority
|
| Issue: | Series 2012 unemployment compensation fund special revenue bonds
|
| Amount: | $624.88 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | June 21
|
| Settlement date: | June 28
|
|
|
| $84.85 million series 2012A tax-exempt bonds
|
| Maturity | Type | Coupon | Price
|
| May 15, 2014 | Term | 5% | 108.51
|
|
|
| $540.03 million series 2012B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $124.96 million | 2013 | Serial | 0.45% | 100
|
| $40,175,000 | 2014 | Serial | 0.852% | 100
|
| $124,965,000 | 2015 | Serial | 1.162% | 100
|
| $124,965,000 | 2016 | Serial | 1.6% | 100.608
|
| $124,965,000 | 2017 | Serial | 1.85% | 100.989
|
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