Connecticut Housing Finance Authority buys back $277.415 million VRDOs

By Angela McDaniels

Tacoma, Wash., July 6 - The Connecticut Housing Finance Authority has purchased $277.415 million of its variable-rate demand housing mortgage finance program bonds under a purchase program and plans to buy back more, according to an announcement from the authority.

The bonds purchased and held by the authority as of June 30 and the principal amount that is still outstanding and subject to the purchase program, if any, are noted in the table below.

Purchases are being made by the authority in multiple transactions, either directly from investors in the open market, from liquidity banks or as a purchaser in a remarketing.

The purchase price paid under the program is par plus accrued interest.

The authority said it plans to hold the bonds, and not cancel them, until it decides to remarket or redeem them.

The Rocky Hill, Conn.-based authority began making purchases of the series 2002A subseries A-5 bonds in February and the remaining bonds in March.

Connecticut Housing Finance Authority repurchases

Bonds Amount purchased Amount outstanding

Series 2002A subseries A-5 bonds $8.480 million $15.870 million

Series 2001B subseries B-6 bonds $8.365 million $16.635 million

Series 2004A subseries A-4 bonds $11.895 million $1.515 million

Series 2004B subseries B-4 bonds $11.850 million $1.050 million

Series 2004D subseries D-4 bonds $13.050 million $200,000

Series 2005A subseries A-4 bonds $20 million None

Series 2005B subseries B-2 bonds $19 million None

Series 2005D subseries D-4 bonds $13.915 million None

Series 2005D subseries D-5 bonds $16.370 million None

Series 2005D subseries D-6 bonds $7.880 million $500,000

Series 2005E subseries E-4 bonds $4.180 million None

Series 2005E subseries E-5 bonds $11.200 million $550,000

Series 2006B subseries B-1 bonds $9.680 million $12.255 million

Series 2006B subseries B-2 bonds $30.840 million $200,000

Series 2006F subseries F-2 bonds $18.260 million $800,000

Series 2007A subseries A-4 bonds $18.170 million None

Series 2007B subseries B-5 bonds $54.280 million None

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