By Sheri Kasprzak
New York, Feb. 11 - The Washington State Housing Finance Commission priced $103,755,000 of series 2014 nonprofit housing revenue bonds, according to an official statement.
The deal includes $78,505,000 of series 2014A tax-exempt nonprofit housing revenue and refunding bonds, $4.7 million of series 2014B-1 tax-exempt mandatory paydown securities, $4.7 million of series 2014B-2 tax-exempt mandatory paydown securities and $15.85 million of series 2014B-3 tax-exempt mandatory paydown securities.
The 2014A bonds are due 2024, 2044 and 2049. The 2024 bonds have a 6% coupon priced at 99.257 to yield 6.1%, and the 2044 bonds have a 7.375% coupon priced at 99.688 to yield 7.4%. The 2049 bonds have a 7.5% coupon priced at par.
The 2014B-1 bonds are due in 2021 and bear interest at 5.875% priced at par.
The 2014B-2 bonds are due in 2020 and bear interest at 5.375% priced at par.
The 2014B-3 bonds are due in 2020 and bear interest at 5.125% priced at par.
The bonds were offered through Ziegler Capital Inc.
Proceeds will be used to construct additional residential housing units at the Rockwoods Retirement Communities in Spokane, as well as to refund the commission's series 1999A-B and 2002 revenue bonds.
| Issuer: | Washington State Housing Finance Commission
|
| Issue: | Series 2014 nonprofit housing revenue bonds
|
| Amount: | $103,755,000
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Inc.
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 13
|
|
|
| $78,505,000 series 2014A tax-exempt nonprofit housing revenue and refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $7,535,000 | 2024 | Term | 6% | 99.257 | 6.10%
|
| $41.38 million | 2044 | Term | 7.375% | 99.688 | 7.40%
|
| $29.59 million | 2049 | Term | 7.5% | 100 | 7.50%
|
|
|
| $4.7 million series 2014B-1 tax-exempt mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| 2021 | Term | 5.875% | 100
|
|
|
| $4.7 million series 2014B-2 tax-exempt mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| 2020 | Term | 5.375% | 100
|
|
|
| $15.85 million series 2014B-3 tax-exempt mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| 2020 | Term | 5.125% | 100
|
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