Tennessee Housing Development plans $133.87 million sale of homeownership program bonds

By Sheri Kasprzak

New York, June 22 - The Tennessee Housing Development Agency is set to price $133,865,000 of series 2012 homeownership program bonds, according to a preliminary official statement.

The deal includes $28.04 million of series 2012-1A AMT bonds, $15,825,000 of series 2012-1B non-AMT bonds and $90 million of series 2012-1C non-AMT bonds.

The 2012-1A bonds are due 2013 to 2017 with a term bond due in 2038. The 2012-1B bonds are due 2018 to 2021. The 2012-1C bonds are due 2022 to 2023 with term bonds due in 2027, 2029, 2037 and 2042.

The bonds (Aa1/AA+/) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager. The co-managers are Raymond James/Morgan Keegan, RBC Capital Markets LLC, J.P. Morgan Securities LLC, Wells Fargo Securities LLC and FTN Financial Capital Markets.

Proceeds will be used to finance mortgage loans for qualified Tennessee residents.

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