Published on 4/12/2012 in the Prospect News Municipals Daily.
New Issue: Vermont Housing Finance prices $75.29 million of multiple-purpose bonds
By Sheri Kasprzak
New York, April 12 - The Vermont Housing Finance Agency sold $75.29 million of series 2012 multiple-purpose bonds, according to a pricing sheet.
The deal included $3.42 million of series 2012A non-AMT bonds, $55.87 million of series 2012B AMT bonds and $16 million of series 2012C non-AMT bonds.
The 2012A bonds are due Nov. 1, 2028, and bear interest at 3.85% priced at par. The 2012B bonds are due 2012 to 2021 with term bonds due in 2023 and 2042. The serial coupons range from 0.65% to 3.45%, all priced at par. The 2023 bonds have a 3.85% coupon priced at par and the 2042 bonds have a 4.125% coupon priced at 122.376. The 2012C bonds are due May 1, 2028, and bear interest at 3.75% priced at 98.813.
The bonds were sold through Citigroup Global Markets Inc. and Morgan Keegan & Co. Inc.
Proceeds will be used to finance housing loans and refund existing debt.
| Issuer: | Vermont Housing Finance Agency
|
| Issue: | Series 2012 multiple-purpose bonds
|
| Amount: | $75.29 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Morgan Keegan & Co. Inc. (lead)
|
| Pricing date: | April 4
|
| Settlement date: | May 2
|
|
|
| $3.42 million series 2012A non-AMT bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2028 | Term | 3.85% | 100
|
|
|
| $55.87 million series 2012B AMT bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $430,000 | 2012 | Serial | 0.65% | 100
|
| $2.77 million | 2013 | Serial | 0.90% | 100
|
| $2.86 million | 2014 | Serial | 1.20% | 100
|
| $2,915,000 | 2015 | Serial | 1.55% | 100
|
| $2.99 million | 2016 | Serial | 1.90% | 100
|
| $3,075,000 | 2017 | Serial | 2.35% | 100
|
| $3,175,000 | 2018 | Serial | 2.90% | 100
|
| $3.28 million | 2019 | Serial | 3.05% | 100
|
| $3,315,000 | 2020 | Serial | 3.25% | 100
|
| $3,295,000 | 2021 | Serial | 3.45% | 100
|
| $5,265,000 | 2023 | Term | 3.85% | 100
|
| $22.5 million | 2042 | Term | 4.125% | 122.376
|
|
|
| $16 million series 2012C non-AMT bonds
|
| Maturity | Type | Coupon | Price
|
| May 1, 2028 | Term | 3.75% | 98.813
|
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