By Sheri Kasprzak
New York, Aug. 26 - The Kentucky Housing Corp. priced $50 million in series 2009B housing revenue bonds on Wednesday, according to a pricing sheet.
The bonds were sold through lead managers Merrill Lynch & Co. Inc. and Citigroup Global Markets Inc.
The co-managers are J.J.B. Hilliard, W.L. Lyons Inc.; Morgan Keegan & Co. Inc.; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co. Inc.; and Ross, Sinclaire & Associates Inc.
The bonds are due 2010 to 2019 with term bonds due 2024, 2026, 2029, 2035 and 2039. The coupons range from 1.05% to 3.875%. The 2024 bonds have a 4.625% coupon, the 2026 bonds have a 4.75% coupon and the 2029 bonds have a 4.85% coupon. The 2035 bonds have a 5% coupon, and the 2039 bonds have a 5.15% coupon.
All of the bonds priced at par.
Proceeds will be used to refund outstanding debt.
The Kentucky Housing Corp. is based in Frankfort, Ky.
| Issuer: | Kentucky Housing Corp.
|
| Issue: | Series 2009B housing revenue bonds
|
| Amount: | $50 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch & Co. Inc. and Citigroup Global Markets Inc. (lead), J.J.B. Hilliard, W.L. Lyons Inc.; Morgan Keegan & Co. Inc.; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co. Inc.; and Ross, Sinclaire & Associates Inc. (co-managers)
|
| Pricing date: | Aug. 26
|
| Settlement date: | Oct. 1
|
|
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 1.05% | Par
|
| 2011 | Serial | 1.35% | Par
|
| 2011 | Serial | 1.40% | Par
|
| 2012 | Serial | 1.70% | Par
|
| 2012 | Serial | 1.75% | Par
|
| 2013 | Serial | 2.25% | Par
|
| 2013 | Serial | 2.30% | Par
|
| 2014 | Serial | 2.60% | Par
|
| 2014 | Serial | 2.60% | Par
|
| 2015 | Serial | 2.95% | Par
|
| 2015 | Serial | 2.95% | Par
|
| 2016 | Serial | 3.15% | Par
|
| 2016 | Serial | 3.15% | Par
|
| 2017 | Serial | 3.45% | Par
|
| 2017 | Serial | 3.45% | Par
|
| 2018 | Serial | 3.65% | Par
|
| 2018 | Serial | 3.65% | Par
|
| 2019 | Serial | 3.875% | Par
|
| 2019 | Serial | 3.875% | Par
|
| 2024 | Term | 4.625% | Par
|
| 2026 | Term | 4.75% | Par
|
| 2029 | Term | 4.85% | Par
|
| 2035 | Term | 5.00% | Par
|
| 2039 | Term | 5.15% | Par
|
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