Connecticut Housing plans to sell $275 million housing mortgage bonds

By Sheri Kasprzak

New York, Feb. 11 - The Connecticut Housing Finance Authority is expected to sell $275 million in series 2010 housing mortgage finance program bonds, according to a preliminary official statement.

The offering includes $273.535 million in series 2010A bonds and $1.465 million in series 2010B bonds.

The 2010A bonds include $15.42 million in series 2010A-1 bonds, $49.975 million in series 2010A-2 bonds, $71.81 million in series 2010A-3 bonds, $3 million in series 2010A-4 federally taxable bonds, $33.33 million in series 2010A-5 variable-rate AMT bonds and $100 million in series 2010A-6 variable-rate taxable bonds.

The bonds will be sold on a negotiated basis with Bank of America Merrill Lynch as the bookrunner for the variable-rate bonds and the co-lead manager for the 2010A-1, 2010A-2, 2010A-3, 2010A-4 and 2010B bonds.

The lead managers for the fixed-rate bonds are Citigroup Global Markets Inc. and Goldman Sachs & Co. The co-managers include Cabrera Capital Markets LLC, J.P. Morgan Securities Inc., M.R. Beal & Co. Inc., Morgan Stanley & Co., Roosevelt & Cross Inc. and Wachovia Bank, NA.

The 2010A-1 bonds are due 2011 to 2017, and the 2010A-2 bonds are due 2010 to 2021 with term bonds due 2025, 2030, 2035 and 2039. The 2010A-3 bonds are due 2010 to 2021 with term bonds due 2025 and 2028. The 2010A-4 bonds are due 2011, and the 2010A-5 bonds are due 2031. The 2010A-6 bonds are due 2039. The 2010B bonds are due 2010 to 2017.

Proceeds will be used to fund mortgage loans.

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