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Ohio Housing preps $70 million sale of mortgage revenue bonds
By Sheri Kasprzak
New York, Aug. 11 - The Ohio Housing Finance Authority plans to price $70 million of series 2011-2 non-AMT single-family mortgage revenue bonds, according to a preliminary official statement.
The bonds (Aaa) will be sold on a negotiated basis with Barclays Capital Inc. as the lead manager. The co-managers are Citigroup Global Markets Inc., George K. Baum & Co. Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, CastleOak Securities LLC, Edward D. Jones & Co. LP, Fifth Third Securities Inc., KeyBanc Capital Markets LLC and PNC Capital Markets LLC.
The bonds are due 2012 to 2022 with term bonds due in 2025 and 2028.
In addition to the bond sale, the authority will convert $105 million of series 2009C-1 single-family mortgage revenue bonds on Sept. 12, 2011 to a permanent rate. The bonds are due Nov. 1, 2041.
Proceeds from the new bonds will be used to make mortgage loans.
Based in Columbus, Ohio, the authority provides affordable housing loans to low- to moderate-income families.
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