Connecticut Housing offers $61.33 million special obligation bonds

By Sheri Kasprzak

New York, Oct. 13 - The Connecticut Housing Finance Authority is set to price $61.33 million of series 2011 single-family special obligation bonds, according to a preliminary official statement.

The offering includes $18.825 million of series 2011-1 non-AMT bonds and $42.505 million of series 2011-2 non-AMT bonds.

The bonds will be sold through Bank of America Merrill Lynch.

The co-managers include Goldman Sachs & Co.; J.P. Morgan Securities LLC; Morgan Stanley & Co. LLC; Barclays Capital Inc.; Citigroup Global Markets Inc.; Grigsby & Associates Inc.; Janney Montgomery Scott LLC; Jefferies & Co. Inc.; M.R. Beal & Co.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; and Wells Fargo Securities LLC.

The 2011-1 bonds are due 2012 to 2017. The 2011-2 bonds are due 2017 to 2023 with a term bond due in 2026.

Proceeds will be used to make mortgage loans.

In addition to the offering, the authority also plans to convert $91.72 million of series 2009 mortgage bonds. The bonds, which are due in 2038 and 2041, will bear interest at the permanent rate, which will be the lower of 2.97% or the lowest 10-year constant maturity Treasury rate at the close of any business day immediately before the notice of conversion.

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