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California Housing Finance Authority's $150 million bonds seen at 3.3% to 4.35%, 4.8%
By Sheri Kasprzak
New York, Jan. 14 - The upcoming $150 million issue of bonds from the California Housing Finance Authority were talked at par on Monday, a day before the offering is expected to price.
The 2008A bonds will be sold in a serial structure from 2011 through 2018 (AAA/AAA) and the 2008B bonds will be sold as term bonds due 2023, 2028 and 2041 (Aa2/AA-).
A market source familiar with the bonds said the 2008A coupons are expected to come in a range between 3.3% for the 2011 maturity and 4.35% for the 2018 maturity.
The 2008B bond's 2023 coupon is expected to come in at 4.8%. The market source said he had not heard what the coupons for the 2028 and 2041 bonds might be.
The insider said he has heard the bonds - both the serial maturities and the term maturity - will all price at par on Tuesday.
The bonds will be sold in two tranches.
The source familiar with the bonds said they will settle sometime near the end of January.
Goldman, Sachs & Co. is the lead manager.
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