By Sheri Kasprzak
New York, Feb. 12 - The Virginia Housing Development Authority priced $72.915 million in series 2009A taxable rental housing bonds, according to an official statement released Thursday.
The bonds (Aa1/AA+/) priced Wednesday through lead manager Morgan Keegan & Co., Inc. The co-managers were Banc of America Securities LLC, BB&T Capital Markets, Davenport & Co. LLC, Merrill Lynch & Co., Raymond James & Associates Inc. and Wachovia Bank.
The bonds are due 2011 to 2023 with term bonds due 2029 and 2039. The serials have coupons from 3.29% to 5.8%. The 2029 bonds have a 6.75% coupon, priced at 97.853 and the 2039 bonds have a 7% coupon, priced at 98.763.
Proceeds will be used for housing loans.
| Issuer: | Virginia Housing Development Authority
|
| Issue: | Series 2009A taxable rental housing bonds
|
| Amount: | $72.915 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co., Inc. (lead), Banc of America Securities LLC, BB&T Capital Markets, Davenport & Co. LLC, Merrill Lynch & Co., Raymond James & Associates Inc. and Wachovia Bank (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 26
|
|
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 3.29% | 100.00
|
| 2012 | Serial | 3.53% | 100.00
|
| 2013 | Serial | 3.88% | 100.00
|
| 2014 | Serial | 4.15% | 100.00
|
| 2015 | Serial | 4.61% | 100.00
|
| 2016 | Serial | 4.81% | 100.00
|
| 2017 | Serial | 5.16% | 100.00
|
| 2018 | Serial | 5.31% | 100.00
|
| 2019 | Serial | 5.41% | 100.00
|
| 2020 | Serial | 5.56% | 100.00
|
| 2021 | Serial | 5.66% | 100.00
|
| 2022 | Serial | 5.65% | 99.001
|
| 2023 | Serial | 5.80% | 98.960
|
| 2029 | Term | 6.75% | 97.853
|
| 2039 | Term | 7.00% | 98.763
|
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