Published on 3/26/2014 in the Prospect News Municipals Daily.
New Issue: Connecticut Housing Finance sells $100 million housing mortgage debt
By Sheri Kasprzak
New York, March 26 - The Connecticut Housing Finance Authority priced $100 million of series 2014 non-AMT housing mortgage finance program bonds, according to a pricing sheet.
The deal included $29.89 million of series 2014A-1 bonds, $24.5 million of series 2014A-1 planned amortization class bonds and $45.61 million of series 2014A-2 bonds.
The 2014A-1 bonds are due 2014 to 2025 with a term bond due in 2029. The serial coupons range from 0.15% to 3.5%, all priced at par. The 2029 bonds have a 3.95% coupon priced at par.
The 2014A-1 PAC bonds are due Nov. 15, 2044 and have a 4% coupon priced at par.
The 2014A-2 bonds are due 2016 to 2025 with a term bond due in 2029. The coupons range from 0.5% to 3.5%, all priced at par. The 2029 bonds have a 3.95% coupon priced at par.
The bonds (Aaa/AAA/) were sold through BofA Merrill Lynch.
Proceeds will be used to finance mortgage loans to qualified Connecticut residents.
| Issuer: | Connecticut Housing Finance Authority
|
| Issue: | Series 2014 non-AMT housing mortgage finance program bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch (lead)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | March 26
|
| Settlement date: | April 23
|
|
|
| $29.89 million series 2014A-1 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $415,000 | 2014 | Serial | 0.15% | 100
|
| $960,000 | 2015 | Serial | 0.25% | 100
|
| $975,000 | 2015 | Serial | 0.30% | 100
|
| $995,000 | 2016 | Serial | 0.50% | 100
|
| $1.01 million | 2016 | Serial | 0.60% | 100
|
| $1.03 million | 2017 | Serial | 1% | 100
|
| $1,045,000 | 2017 | Serial | 1.05% | 100
|
| $1,065,000 | 2018 | Serial | 1.30% | 100
|
| $1.08 million | 2018 | Serial | 1.40% | 100
|
| $1,095,000 | 2019 | Serial | 1.75% | 100
|
| $1,115,000 | 2019 | Serial | 1.875% | 100
|
| $825,000 | 2020 | Serial | 2.25% | 100
|
| $840,000 | 2020 | Serial | 2.35% | 100
|
| $850,000 | 2021 | Serial | 2.70% | 100
|
| $865,000 | 2021 | Serial | 2.75% | 100
|
| $885,000 | 2022 | Serial | 3.00% | 100
|
| $895,000 | 2022 | Serial | 3.05% | 100
|
| $915,000 | 2023 | Serial | 3.20% | 100
|
| $930,000 | 2023 | Serial | 3.25% | 100
|
| $945,000 | 2024 | Serial | 3.35% | 100
|
| $960,000 | 2024 | Serial | 3.35% | 100
|
| $975,000 | 2025 | Serial | 3.50% | 100
|
| $990,000 | 2025 | Serial | 3.50% | 100
|
| $8.23 million | 2029 | Term | 3.95% | 100
|
|
|
| $24.5 million series 2014A-1 planned amortization class bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2044 | Term | 4.00% | 100
|
|
|
| $45.61 million series 2014A-2 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $560,000 | 2016 | Serial | 0.50% | 100
|
| $200,000 | 2017 | Serial | 1.00% | 100
|
| $1,945,000 | 2017 | Serial | 1.05% | 100
|
| $1.74 million | 2018 | Serial | 1.30% | 100
|
| $635,000 | 2019 | Serial | 1.75% | 100
|
| $2,105,000 | 2019 | Serial | 1.875% | 100
|
| $2,685,000 | 2020 | Serial | 2.25% | 100
|
| $2.33 million | 2020 | Serial | 2.35% | 100
|
| $805,000 | 2021 | Serial | 2.70% | 100
|
| $2,045,000 | 2022 | Serial | 3.00% | 100
|
| $980,000 | 2022 | Serial | 3.05% | 100
|
| $1.97 million | 2023 | Serial | 3.20% | 100
|
| $930,000 | 2023 | Serial | 3.25% | 100
|
| $3.67 million | 2024 | Serial | 3.35% | 100
|
| $3.57 million | 2024 | Serial | 3.35% | 100
|
| $1.6 million | 2025 | Serial | 3.50% | 100
|
| $4.17 million | 2025 | Serial | 3.50% | 100
|
| $13.67 million | 2029 | Term | 3.95% | 100
|
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