New Issue: Kentucky Housing prices $116 million housing revenue bonds

By Sheri Kasprzak

New York, July 13 - The Kentucky Housing Corp. sold $116 million in series 2010 housing revenue bonds on Tuesday, according to a pricing sheet.

The offering included $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 2010B bonds are due 2011 to 2022 with term bonds due 2024 and 2027. The coupons range from 0.5% to 3.95%, all priced at par. The 2024 bonds have a 4.05% coupon priced at par, and the 2027 bonds have a 5% coupon, also priced at par.

The 2010C bonds are due 2027 and 2033. The 2027 bonds have a 4.375% coupon priced at par, and the 2033 bonds have a 4.625% coupon priced at par.

The 2010D bonds are due 2015 to 2020 with term bonds due 2025 and 2027. Coupons range from 3.05% to 4.4%, all priced at par. The 2025 bonds have a 5.125% coupon priced at par. The 2027 bonds have a 5.25% coupon priced at par.

The 2010E bonds are due 2020, 2022, 2023, 2030 and 2035. The 2020 bonds have a 3.625% coupon, the 2022 bonds have a 3.95% coupon and the 2023 bonds have a 4% coupon priced at par. The 2030 bonds have a 4.5% coupon priced at par. The 2035 bonds have a 4.75% coupon priced at par.

Bank of America Merrill Lynch and Citigroup Global Markets Inc. were the senior managers. The co-managers were 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.

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

Issuer:	Kentucky Housing Corp.
Issue:	Series 2010 housing revenue bonds
Amount:	$116 million
Type:	Negotiated
Underwriters:	Bank of America Merrill Lynch and Citigroup Global Markets Inc. (lead); 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. (co-managers)
Pricing date:	July 13
Settlement date:	Aug. 12
Series 2010B
Maturity	Type	Coupon	Price
2011	Serial	0.5%	100
2011	Serial	0.6%	100
2012	Serial	0.8%	100
2012	Serial	0.9%	100
2013	Serial	1.35%	100
2013	Serial	1.45%	100
2014	Serial	1.75%	100
2014	Serial	1.875%	100
2015	Serial	2.2%	100
2015	Serial	2.3%	100
2016	Serial	2.55%	100
2016	Serial	2.65%	100
2017	Serial	2.85%	100
2017	Serial	2.95%	100
2018	Serial	3.2%	100
2018	Serial	3.2%	100
2019	Serial	3.45%	100
2019	Serial	3.45%	100
2020	Serial	3.625%	100
2020	Serial	3.625%	100
2021	Serial	3.8%	100
2021	Serial	3.8%	100
2022	Serial	3.95%	100
2022	Serial	3.95%	100
2024	Term	4.05%	100
2027	Term	5%	100
Series 2010C
Maturity	Type	Coupon	Price
2027	Term	4.375%	100
2033	Term	4.625%	100
Series 2010D
Maturity	Type	Coupon	Price
2015	Serial	3.05%	100
2015	Serial	3.15%	100
2016	Serial	3.4%	100
2016	Serial	3.5%	100
2017	Serial	3.7%	100
2017	Serial	3.8%	100
2018	Serial	4%	100
2018	Serial	4%	100
2019	Serial	4.25%	100
2019	Serial	4.25%	100
2020	Serial	4.4%	100
2020	Serial	4.4%	100
2025	Term	5.125%	100
2027	Serial	5.25%	100
Series 2010E
Maturity	Type	Coupon	Price
2020	Term	3.625%	100
2022	Term	3.95%	100
2023	Term	4%	100
2030	Term	4.5%	100
2035	Term	4.75%	100

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