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Tennessee Housing agency to sell $400 million finance program bonds
By Cristal Cody
Tupelo, Miss., Nov. 25 -The Tennessee Housing Development Agency plans to sell $400 million in housing finance program bonds, according to a preliminary official statement and placement memorandum.
The sale includes $40 million in series 2009A1 bonds, $60 million in series 2009A2 bonds and $300 million in series 2009B bonds.
The agency plans to privately place the series 2009A2 and 2009B bonds, according to the statement.
The series 2009A1 bonds will include $24.335 million in serial bonds due 2011 to 2021 and $15.665 million in terms due 2024 and 2027.
The series 2009A2 bonds are due 2040 and the series 2009B bonds are due 2041.
Morgan Keegan & Co., Inc. will be the senior manager of the negotiated sale.
The co-managers are RBC Capital Markets Corp., Merrill Lynch & Co., Citigroup Global Markets Inc., Raymond James & Associates, Inc., M.R. Beal & Co., and Duncan-Williams, Inc.
The proceeds will be used for fund deposits.
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