Published on 10/17/2012 in the Prospect News Municipals Daily.
New Issue: Tennessee Housing Development prices $97.63 million homeownership bonds
By Sheri Kasprzak
New York, Oct. 17 - The Tennessee Housing Development Agency sold $97,625,000 of series 2012 single family homeownership program bonds, according to a pricing sheet.
The deal included $14,355,000 of series 2012-2A bonds, $8.27 million of series 2012-2B bonds and $75 million of series 2012-2C bonds.
The 2012-2A bonds are due 2013 to 2019 with 0.50% to 2.30% coupons, all priced at par.
The 2012-2B bonds are due 2019 to 2022 with 1.85% to 2.5% coupons, all priced at par.
The 2012-2C bonds are due 2022 to 2024 with term bonds due in 2028, 2031, 2038 and 2043. The serial coupons range from 2.5% to 2.75%, all priced at par. The 2028 bonds have a 3.1% coupon priced at par and the 2031 bonds have a 3.3% coupon priced at par. The 2038 bonds have a 4% coupon priced at 143.082. The 2043 bonds have a 3.8% coupon priced at par.
The bonds (Aa1) will be sold through Raymond James/Morgan Keegan.
Proceeds will be used to finance mortgage loans.
Issuer: | Tennessee Housing Development Agency
|
Issue: | Series 2012 single family homeownership program bonds
|
Amount: | $97,625,000
|
Type: | Negotiated
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Underwriter: | Raymond James/Morgan Keegan
|
Ratings: | Moody's: Aa2
|
Pricing date: | Oct. 17
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Settlement date: | Nov. 15
|
|
$14,355,000 series 2012-2A bonds
|
Amount | Maturity | Type | Coupon | Price
|
$920,000 | 2013 | Serial | 0.50% | 100
|
$1,235,000 | 2014 | Serial | 0.70% | 100
|
$1,245,000 | 2014 | Serial | 0.80% | 100
|
$1.25 million | 2015 | Serial | 0.95% | 100
|
$1,255,000 | 2015 | Serial | 1.05% | 100
|
$1,265,000 | 2016 | Serial | 1.40% | 100
|
$1,265,000 | 2016 | Serial | 1.50% | 100
|
$1,275,000 | 2017 | Serial | 1.65% | 100
|
$1,285,000 | 2017 | Serial | 1.75% | 100
|
$1.3 million | 2018 | Serial | 2% | 100
|
$1.31 million | 2018 | Serial | 2.10% | 100
|
$750,000 | 2019 | Serial | 2.30% | 100
|
|
$8.27 million series 2012-2B bonds
|
Amount | Maturity | Type | Coupon | Price
|
$575,000 | 2019 | Serial | 1.85% | 100
|
$1.34 million | 2019 | Serial | 1.9% | 100
|
$1.35 million | 2020 | Serial | 2.1% | 100
|
$1.37 million | 2020 | Serial | 2.15% | 100
|
$1.39 million | 2021 | Serial | 2.35% | 100
|
$1,405,000 | 2021 | Serial | 2.35% | 100
|
$840,000 | 2022 | Serial | 2.5% | 100
|
|
$75 million series 2012-2C bonds
|
Amount | Maturity | Type | Coupon | Price
|
$590,000 | 2022 | Serial | 2.5% | 100
|
$1,445,000 | 2022 | Serial | 2.5% | 100
|
$1,465,000 | 2023 | Serial | 2.7% | 100
|
$1.49 million | 2023 | Serial | 2.7% | 100
|
$1,535,000 | 2024 | Serial | 2.75% | 100
|
$1.51 million | 2024 | Serial | 2.75% | 100
|
$13,235,000 | 2028 | Term | 3.1% | 100
|
$8,735,000 | 2031 | Term | 3.3% | 100
|
$26,575,000 | 2038 | Term | 4% | 143.082
|
$18.42 million | 2043 | Term | 3.8% | 100 |
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