Connecticut Housing plans $144.96 million sale of mortgage bonds

By Sheri Kasprzak

New York, Nov. 1 - The Connecticut Housing Finance Authority is expected to sell $144.955 million in series 2010 housing mortgage finance program bonds on Thursday, according to a preliminary official statement.

The offering includes $85.745 million of series 2010D bonds and $59.21 million of series 2010E bonds.

The 2010D bonds are comprised of $5.74 million of series 2010D-1 bonds, $71.205 million of series 2010D-2 AMT bonds and $8.8 million of series 2010D-3 federally taxable bonds. The 2010E bonds are comprised of $14.09 million of series 2010E-1 bonds and $45.12 million of series 2010E-2 AMT bonds.

Bank of America Merrill Lynch, Morgan Stanley & Co. Inc. and J.P. Morgan Securities LLC are the senior managers. The co-managers are Barclays Capital Inc., Citigroup Global Markets Inc., Grigsby & Associates Inc., Janney Montgomery Scott LLC, Jefferies & Co., M.R. Beal & Co., Morgan Keegan & Co., Ramirez & Co. Inc., Rice Financial Products Co., Roosevelt & Cross Inc. and Wells Fargo Securities LLC.

The 2010D-1 bonds are due 2013 to 2016 with a term bond due 2031. The 2010D-2 bonds are due 2011 to 2021 with term bonds due 2026 and 2031. The 2010D-3 bonds are due 2011 to 2018.

The 2010E-1 bonds are due 2012 to 2021 with term bonds due 2026, 2031, 2036, 2041, 2046 and 2052. The 2010E-2 bonds are due 2011 to 2021 with term bonds due 2026, 2031 and 2036.

The proceeds will be used to finance new mortgage loans, as well as to refund existing debt used to make multifamily housing mortgage loans.

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