Published on 5/16/2012 in the Prospect News Municipals Daily.
New Issue: Georgia Housing prices $100.61 million of single family mortgage bonds
By Sheri Kasprzak
New York, May 16 - The Georgia Housing and Finance Authority sold $100.61 million of series 2012A single family mortgage bonds, according to a pricing sheet.
The deal included $30 million of series 2012A-1 non-AMT bonds, $17,955,000 of series 2012A-2 AMT bonds and $52,655,000 of series 2012A-3 AMT bonds.
The 2012A-1 bonds are due 2032, 2037 and 2042. The 2032 bonds have a 3.65% coupon, the 2037 bonds have a 4% coupon, and the 2042 bonds have a 4.05% coupon, all priced at par.
The 2012A-2 bonds are due 2014 to 2017 with a term bond due in 2028. The serial coupons range from 0.65% to 1.45%, all priced at par, and the 2028 bonds have a 3.4% coupon priced at par.
The 2012A-3 bonds are due 2012 to 2023 with term bonds due in 2025 and 2030. The serial coupons range from 0.53% to 3.4%, all priced at par. The 2025 bonds have a 3.65% coupon, and the 2030 bonds have a 4% coupon, both priced at par.
The bonds (/AAA/) were sold through Citigroup Global Markets Inc. and Bank of America Merrill Lynch. The co-managers were George K. Baum & Co., J.P. Morgan Securities LLC and Raymond James/Morgan Keegan.
Proceeds will be used to current refund existing bonds.
Issuer: | Georgia Housing and Finance Authority
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Issue: | Series 2012A single family mortgage bonds
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Amount: | $100.61 million
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Type: | Negotiated
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Underwriters: | Citigroup Global Markets Inc. and Bank of America Merrill Lynch (lead), George K. Baum & Co., J.P. Morgan Securities LLC and Raymond James/Morgan Keegan (co-managers)
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Ratings: | Standard & Poor's: AAA
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Pricing date: | May 16
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Settlement date: | May 31
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$30 million series 2012A-1 non-AMT bonds
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Amount | Maturity | Type | Coupon | Price
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$8.16 million | 2032 | Term | 3.65% | 100
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$9.77 million | 2037 | Term | 4% | 100
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$12.07 million | 2042 | Term | 4.05% | 100
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$17,955,000 series 2012A-2 AMT bonds
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Amount | Maturity | Type | Coupon | Price
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$740,000 | 2014 | Serial | 0.65% | 100
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$1.1 million | 2015 | Serial | 1% | 100
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$1,485,000 | 2016 | Serial | 1.1% | 100
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$1,775,000 | 2016 | Serial | 1.15% | 100
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$835,000 | 2017 | Serial | 1.45% | 100
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$12.02 million | 2028 | Term | 3.4% | 100
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$52,655,000 series 2012A-3 AMT bonds
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Amount | Maturity | Type | Coupon | Price
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$1.19 million | 2012 | Serial | 0.53% | 100
|
$3.9 million | 2013 | Serial | 0.95% | 100
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$3,235,000 | 2014 | Serial | 1.3% | 100
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$2,935,000 | 2015 | Serial | 1.65% | 100
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$830,000 | 2016 | Serial | 1.8% | 100
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$3,255,000 | 2017 | Serial | 2% | 100
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$4.13 million | 2018 | Serial | 2.25% | 100
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$4,195,000 | 2019 | Serial | 2.55% | 100
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$4.18 million | 2020 | Serial | 2.8% | 100
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$4,035,000 | 2021 | Serial | 3% | 100
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$3.96 million | 2022 | Serial | 3.25% | 100
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$3,895,000 | 2023 | Serial | 3.4% | 100
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$6.14 million | 2025 | Term | 3.65% | 100
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$6,775,000 | 2030 | Term | 4% | 100
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