By Sheri Kasprzak
New York, Feb. 19 - The Virginia Housing Development Authority remarketed $80 million of series 2012C-3 commonwealth mortgage bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were remarketed on a competitive basis with Wells Fargo Bank, NA winning the bid.
The bonds are due 2016 to 2025 with term bonds due in 2031 and 2038. The new serial coupons range from 0.95% to 2.8%, all priced at par. The 2031 bonds have a 3.25% coupon priced at par, and the 2038 bonds have a 3.5% coupon priced at par.
Proceeds were originally used to finance mortgage loans.
| Issuer: | Virginia Housing Development Authority
|
| Issue: | Series 2012C-3 commonwealth mortgage bonds (remarketing)
|
| Amount: | $80 million
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Bank, NA (winner)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.4 million | 2016 | Serial | 0.95% | 100
|
| $2.2 million | 2017 | Serial | 1.10% | 100
|
| $3.4 million | 2018 | Serial | 1.30% | 100
|
| $3.7 million | 2019 | Serial | 1.70% | 100
|
| $3.6 million | 2020 | Serial | 1.90% | 100
|
| $3.4 million | 2021 | Serial | 2.15% | 100
|
| $3.4 million | 2022 | Serial | 2.35% | 100
|
| $3.6 million | 2023 | Serial | 2.55% | 100
|
| $3.6 million | 2024 | Serial | 2.70% | 100
|
| $3.6 million | 2025 | Serial | 2.80% | 100
|
| $22.2 million | 2031 | Term | 3.25% | 100
|
| $25.9 million | 2038 | Term | 3.50% | 100
|
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