Kentucky Housing plans $116 million sale of housing revenue bonds

By Sheri Kasprzak

New York, July 2 - The Kentucky Housing Corp. is set to price $116 million in series 2010 housing revenue bonds, according to a preliminary official statement.

The offering is comprised of $40 million in series 2010B non-AMT bonds, $10 million in series 2010C non-AMT bonds, $46 million in series 2010D AMT bonds and $20 million in series 2010E non-AMT bonds.

The bonds will be sold on a negotiated basis with Bank of America Merrill Lynch and Citigroup Global Markets Inc. as the senior managers. The co-managers are J.J.B Hilliard, W.L. Lyons LLC; Morgan Keegan & Co. Inc.; PNC Capital Markets LLC; Edward D. Jones Co. LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co. Inc.; Ross, Sinclaire & Associates Inc.; and Sterne, Agee & Leach Inc.

The 2010B bonds are due 2011 to 2022 with term bonds due 2024 and 2027.

The 2010C bonds are due 2027 with a term bond due 2033.

The 2010D bonds are due 2015 to 2021 with term bonds due 2034.

The 2010E bonds are due 2025, 2030 and 2035.

Proceeds will be used to fund mortgage loans, as well as refund the corporation's series 2000 bonds.

Based in Frankfort, Kentucky, Kentucky Housing provides low-cost mortgage loans to low- to moderate-income Kentuckians.

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