Published on 6/12/2013 in the Prospect News Municipals Daily.
New Issue: Kentucky Housing brings $99.97 million housing revenue bonds via Citi
By Sheri Kasprzak
New York, June 12 - The Kentucky Housing Corp. sold $99.97 million of series 2013 housing revenue bonds, said a pricing sheet.
The offering included $36.47 million of series 2013C taxable bonds, $49.41 million of series 2013D non-AMT bonds, $7.59 million of series 2013E non-AMT bonds, $2.2 million of series 2013F AMT bonds and $4.3 million of series 2013G non-AMT bonds.
The 2013C bonds are due 2014 to 2023 with 0.44% to 3.522% coupons all priced at par.
The 2013D bonds are due 2023, 2028 and 2033. The 2023 bonds have a 3.2% coupon priced at par, and the 2028 bonds have a 3.75% coupon priced at 98.309 to yield 3.9% and a 4% coupon priced at 100.784 to yield 3.9%. The 2033 bonds have a 3.5% coupon priced at 106.627 to yield 2.07%.
The 2013E bonds are due 2016 to 2023 with coupons from 1% to 3.2% all priced at par.
The 2013F bonds are due 2014 to 2016 with 0.5% to 1.2% coupons all priced at par.
The 2013G bonds are due 2033, 2038 and 2043. The 2033 bonds have a 4% coupon priced at par, and the 2038 bonds have a 4.3% coupon priced at par. The 2043 bonds have a 4.375% coupon priced at par.
The bonds were sold through Citigroup Global Markets Inc. and BofA Merrill Lynch.
Proceeds will be used to finance housing for low- to moderate-income families residing in the state.
| Issuer: | Kentucky Housing Corp.
|
| Issue: | Series 2013 housing revenue bonds
|
| Amount: | $99.97 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and BofA Merrill Lynch (lead), J.J.B. Hilliard, W.L. Lyons LLC, PNC Capital Markets LLC, Raymond James/Morgan Keegan, Stifel, Nicolaus & Co. Inc., Edward D. Jones & Co. LP, First Kentucky Securities Corp., Sterne, Agee & Leach Inc. and Ross, Sinclaire & Associates LLC (co-managers)
|
| Pricing date: | June 12
|
| Settlement date: | July 10
|
|
|
| $36.47 million series 2013C taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.64 million | 2014 | Serial | 0.44% | 100
|
| $1.73 million | 2014 | Serial | 0.572% | 100
|
| $1.74 million | 2015 | Serial | 0.74% | 100
|
| $1,745,000 | 2015 | Serial | 0.94% | 100
|
| $1,755,000 | 2016 | Serial | 1.191% | 100
|
| $1,765,000 | 2016 | Serial | 1.291% | 100
|
| $1.78 million | 2017 | Serial | 1.7% | 100
|
| $1,795,000 | 2017 | Serial | 1.8% | 100
|
| $1,815,000 | 2018 | Serial | 1.95% | 100
|
| $1.83 million | 2018 | Serial | 2.05% | 100
|
| $1.85 million | 2019 | Serial | 2.341% | 100
|
| $1,875,000 | 2019 | Serial | 2.491% | 100
|
| $1.9 million | 2020 | Serial | 2.721% | 100
|
| $1,925,000 | 2020 | Serial | 2.841% | 100
|
| $1,955,000 | 2021 | Serial | 3.022% | 100
|
| $1.98 million | 2021 | Serial | 3.122% | 100
|
| $2.01 million | 2022 | Serial | 3.222% | 100
|
| $2,045,000 | 2022 | Serial | 3.322% | 100
|
| $2.08 million | 2023 | Serial | 3.422% | 100
|
| $1,255,000 | 2023 | Serial | 3.522% | 100
|
|
|
| $49.41 million series 2013D non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $885,000 | 2023 | Term | 3.2% | 100 | 3.2%
|
| $11 million | 2028 | Term | 3.75% | 98.309 | 3.9%
|
| $12.37 million | 2028 | Term | 4% | 100.784 | 3.9%
|
| $25,155,000 | 2033 | Term | 3.5% | 106.627 | 2.07%
|
|
|
| $7.59 million series 2013E non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $80,000 | 2016 | Serial | 1% | 100
|
| $465,000 | 2016 | Serial | 1.05% | 100
|
| $470,000 | 2017 | Serial | 1.35% | 100
|
| $475,000 | 2017 | Serial | 1.4% | 100
|
| $475,000 | 2018 | Serial | 1.75% | 100
|
| $480,000 | 2018 | Serial | 1.8% | 100
|
| $485,000 | 2019 | Serial | 2.15% | 100
|
| $495,000 | 2019 | Serial | 2.2% | 100
|
| $495,000 | 2020 | Serial | 2.45% | 100
|
| $500,000 | 2020 | Serial | 2.5% | 100
|
| $505,000 | 2021 | Serial | 2.75% | 100
|
| $510,000 | 2021 | Serial | 2.8% | 100
|
| $515,000 | 2022 | Serial | 3.05% | 100
|
| $525,000 | 2022 | Serial | 3.05% | 100
|
| $580,000 | 2023 | Serial | 3.2% | 100
|
| $535,000 | 2023 | Serial | 3.2% | 100
|
|
|
| $2.2 million series 2013F AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $435,000 | 2014 | Serial | 0.5% | 100
|
| $455,000 | 2014 | Serial | 0.55% | 100
|
| $460,000 | 2015 | Serial | 0.8% | 100
|
| $460,000 | 2015 | Serial | 0.85% | 100
|
| $390,000 | 2016 | Serial | 1.2% | 100
|
|
|
| $4.3 million series 2013G non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,295,000 | 2033 | Term | 4% | 100
|
| $895,000 | 2038 | Term | 4.3% | 100
|
| $1.11 million | 2043 | Term | 4.375% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
