Published on 6/5/2014 in the Prospect News Municipals Daily.
New Issue: Kentucky Housing brings to market $61.45 million housing revenue bonds
By Sheri Kasprzak
New York, June 5 – Kentucky Housing Corp. sold $61,445,000 of series 2014A taxable housing revenue bonds, the issuer disclosed in a pricing sheet.
The bonds (Aaa/AAA/) were sold through Citigroup Global Markets Inc.
The bonds are due 2015 to 2024 with term bonds due in 2029 and 2034. The serial coupons range from 0.25% to 3.418% all priced at par. The 2029 bonds have a 3.948% coupon and the 2034 bonds have a 4.296% coupon both priced at par.
Proceeds will be used to refund outstanding debt.
Kentucky Housing supports home ownership and provides rental assistance for low-income state residents. It is based in Frankfort, Ky.
| Issuer: | Kentucky Housing Corp.
|
| Issue: | Series 2014A taxable housing revenue bonds
|
| Amount: | $61,445,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead); BofA Merrill Lynch; J.J.B. Hilliard, W.L. Lyons LLC; Raymond James/Morgan Keegan; PNC Capital Markets LLC; First Kentucky Securities Corp.; Edward D. Jones & Co. LP; Fifth Third Securities Inc.; and Sterne, Agee & Leach Inc. (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | May 30
|
| Settlement date: | July 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,075,000 | 2015 | Serial | 0.25% | 100
|
| $2,085,000 | 2015 | Serial | 0.30% | 100
|
| $2.17 million | 2016 | Serial | 0.40% | 100
|
| $2,205,000 | 2016 | Serial | 0.57% | 100
|
| $2,245,000 | 2017 | Serial | 0.937% | 100
|
| $2,285,000 | 2017 | Serial | 1.107% | 100
|
| $2.12 million | 2018 | Serial | 1.494% | 100
|
| $2.16 million | 2018 | Serial | 1.694% | 100
|
| $2,135,000 | 2019 | Serial | 1.994% | 100
|
| $2.17 million | 2019 | Serial | 2.124% | 100
|
| $2.24 million | 2020 | Serial | 2.40% | 100
|
| $2,295,000 | 2020 | Serial | 2.55% | 100
|
| $2.35 million | 2021 | Serial | 2.70% | 100
|
| $2,405,000 | 2021 | Serial | 2.78% | 100
|
| $2.17 million | 2022 | Serial | 2.948% | 100
|
| $2.84 million | 2022 | Serial | 3.018% | 100
|
| $2,605,000 | 2023 | Serial | 3.128% | 100
|
| $2,655,000 | 2023 | Serial | 3.248% | 100
|
| $2.72 million | 2024 | Serial | 3.348% | 100
|
| $2.79 million | 2024 | Serial | 3.418% | 100
|
| $6,975,000 | 2029 | Term | 3.948% | 100
|
| $7.75 million | 2034 | Term | 4.296% | 100
|
|
|
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