Utah Housing plans to tender for some outstanding notes under modified Dutch auction

By Susanna Moon

Chicago, May 19 - Utah Housing Corp. said it will purchase for cash some outstanding debt securities under a modified Dutch auction.

The offer will expire at 5 p.m. ET on June 12.

Holders who tender their bonds by 5 p.m. ET on June 5 will receive the premium purchase price.

Utah Housing said it will consider bondholder offers from highest to lowest spreads above MMD yields.

The issuer will determine purchase prices based on the MMD yield plus the clearing spread. The premium price will be set using the tender offer yield minus 5 basis points.

D.F. King & Co., Inc. (800 967-4612 and at dfking.com/uhc) is the depositary and information agent. Barclays Capital (800 438-3242 or collect 212 528-7581) is the dealer manager for the offer.

Utah Housing did not specify the securities in the press release.

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