Connecticut Housing Finance prepares $179.9 million mortgage bond deal

By Sheri Kasprzak

New York, Oct. 7 – The Connecticut Housing Finance Authority is slated to price $179.9 million of series 2014D housing mortgage finance program bonds, according to a preliminary official statement.

The offering includes $96.43 million of series 2014D-1 bonds, $61,535,000 of series 2014D-2 AMT bonds and $21,935,000 of series 2014D-3 AMT variable-rate bonds.

The bonds (Aaa/AAA/) will be sold on a negotiated basis. Morgan Stanley & Co. LLC, BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the senior managers. Morgan Stanley & Co. LLC is the sole underwriter for the 2014D-3 bonds. The co-managers for the 2014D-1 and 2014D-2 bonds are Barclays, Janney Montgomery Scott LLC, Jefferies & Co. Inc., Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc. and Wells Fargo Securities LLC.

The series 2014D-1 bonds are due in 2026 with term bonds due in 2029, 2034, 2036 and 2044.

The series 2014D-2 bonds are due 2015 to 2026.

The series 2014D-3 bonds are due Nov. 15, 2034.

Proceeds will be used to finance mortgage loans and either advance or current refund existing debt.

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