Published on 10/4/2010 in the Prospect News Municipals Daily.
New Issue: Connecticut Housing Finance Authority prices $75.88 million special obligation bonds
By Sheri Kasprzak
New York, Oct. 4 - The Connecticut Housing Finance Authority sold $75.88 million in state-supported special obligation bonds on Friday, according to a pricing sheet released Monday.
The sale included $12.655 million in series 13 bonds, $15.685 million in series 14 bonds, $32.1 million in series 15 federally taxable bonds and $15.44 million in series 16 bonds.
The series 13 bonds are due 2012 to 2025 with term bonds due 2035 and 2040. The serial coupons range from 2% to 3.5%. The 2035 bonds have a 4.125% coupon priced at 99.245, and the 2040 bonds have a 5% coupon priced at 107.193.
The series 14 bonds are due 2016 to 2017 and 2019 to 2025 with term bonds due 2030 and 2031. The serial coupons range from 4% to 5%. The 2030 bonds have a 5% coupon priced at 118.348. The 2031 bonds have a 4% coupon priced at 98.611.
The series 15 bonds are due 2011 to 2018 with term bonds due 2025 and 2030. Coupons range from 0.93% to 3.52%, all priced at par. The 2025 bonds have a 4.65% coupon priced at par. The 2030 bonds have a 5.35% coupon priced at par.
The series 16 bonds are due 2011 to 2022 with a term bond due 2030. The serial coupons range from 1% to 3%. The 2030 bonds have a 5% coupon priced at 118.348.
The bonds (Aa2/AA/) were sold on a negotiated basis with M.R Beal & Co. and Siebert Brandford Shank & Co. LLC as the joint bookrunners. The bookrunning co-senior manager was Ramirez & Co. Inc. The co-managers included Cabrera Capital Markets LLC; Jackson Securities Inc.; Fidelity Capital Markets Inc.; and RBC Capital Markets Corp.
Proceeds will be used to finance special-needs housing mortgage loans for group homes and to finance special-needs housing mortgages for the state's Emergency Mortgage Assistance Program.
| Issuer: | Connecticut Housing Finance Authority
|
| Issue: | Special obligation bonds
|
| Amount: | $75.88 million
|
| Type: | Negotiated
|
| Underwriters: | M.R. Beal & Co. and Siebert Brandford Shank & Co. LLC (joint bookrunners); Ramirez & Co. Inc. (bookrunning co-senior manager); Cabrera Capital Markets LLC, Jackson Securities Inc., Fidelity Capital Markets Inc. and RBC Capital Markets Corp. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 19
|
|
|
| $12.655 million series 13
|
| Amount | Maturity | Type | Coupon | Price
|
| $255,000 | 2012 | Serial | 2% | 102.052
|
| $260,000 | 2013 | Serial | 2% | 102.613
|
| $330,000 | 2014 | Serial | 2% | 102.671
|
| $275,000 | 2015 | Serial | 2% | 102.012
|
| $275,000 | 2016 | Serial | 2.125% | 101.469
|
| $295,000 | 2017 | Serial | 2.375% | 101.387
|
| $310,000 | 2018 | Serial | 2.5% | 100.345
|
| $310,000 | 2019 | Serial | 2.625% | 99.805
|
| $325,000 | 2020 | Serial | 3% | 101.256
|
| $345,000 | 2021 | Serial | 3% | 99.545
|
| $370,000 | 2022 | Serial | 3% | 98.064
|
| $395,000 | 2023 | Serial | 3.125% | 98.198
|
| $405,000 | 2024 | Serial | 3.25% | 98.369
|
| $420,000 | 2025 | Serial | 3.5% | 100
|
| $5.355 million | 2035 | Term | 4.125% | 99.245
|
| $2.73 million | 2040 | Term | 5% | 107.193
|
|
|
| $15.685 million series 14
|
| Amount | Maturity | Type | Coupon | Price
|
| $700,000 | 2016 | Serial | 5% | 116.838
|
| $520,000 | 2017 | Serial | 4% | 111.413
|
| $800,000 | 2019 | Serial | 4% | 110.377
|
| $205,000 | 2020 | Serial | 4% | 109.644
|
| $865,000 | 2021 | Serial | 4% | 108.583
|
| $900,000 | 2022 | Serial | 4% | 107.728
|
| $940,000 | 2023 | Serial | 4% | 107.19
|
| $975,000 | 2024 | Serial | 4% | 106.507
|
| $370,000 | 2025 | Serial | 4% | 105.69
|
| $6.18 million | 2030 | Term | 5% | 118.348
|
| $3.23 million | 2031 | Term | 4% | 98.611
|
|
|
| $32.1 million series 15
|
| Amount | Maturity | Type | Coupon | Price
|
| $470,000 | 2011 | Serial | 0.93% | 100
|
| $835,000 | 2011 | Serial | 0.93% | 100
|
| $1.13 million | 2012 | Serial | 1.18% | 100
|
| $635,000 | 2012 | Serial | 1.18% | 100
|
| $1.14 million | 2013 | Serial | 1.39% | 100
|
| $645,000 | 2013 | Serial | 1.39% | 100
|
| $1.16 million | 2014 | Serial | 1.98% | 100
|
| $350,000 | 2014 | Serial | 1.98% | 100
|
| $1.18 million | 2015 | Serial | 2.38% | 100
|
| $1.21 million | 2016 | Serial | 2.73% | 100
|
| $1.245 million | 2017 | Serial | 3.01% | 100
|
| $1.28 million | 2018 | Serial | 3.52% | 100
|
| $10.68 million | 2025 | Term | 4.65% | 100
|
| $10.14 million | 2030 | Term | 5.35% | 100
|
|
|
| $15.44 million series 16
|
| Amount | Maturity | Type | Coupon | Price
|
| $430,000 | 2011 | Serial | 1% | 100.261
|
| $520,000 | 2012 | Serial | 2% | 102.052
|
| $215,000 | 2013 | Serial | 2% | 102.613
|
| $200,000 | 2014 | Serial | 2% | 102.671
|
| $800,000 | 2015 | Serial | 2% | 101.786
|
| $285,000 | 2016 | Serial | 2.25% | 102.137
|
| $840,000 | 2017 | Serial | 2.5% | 102.158
|
| $720,000 | 2018 | Serial | 2.75% | 102.08
|
| $890,000 | 2019 | Serial | 2.5% | 98.844
|
| $480,000 | 2020 | Serial | 3% | 101.256
|
| $120,000 | 2021 | Serial | 3% | 99.545
|
| $870,000 | 2022 | Serial | 3% | 98.064
|
| $9.07 million | 2030 | Term | 5% | 118.348
|
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