The Connecticut Housing Finance Authority is issuing nearly $300 million in municipal bonds to finance housiprograms.
The Housing Mortgage Finance Program Bonds, 2025 Series A, consists of $100 million in tax-exempt Subseries A-1 and roughly $200 million in federally taxable Subseries A-2 bonds.
Proceeds will be used to finance new home mortgage loans and agency securities, refund and replace existing bonds, make a deposit to the Housing Mortgage Capital Reserve Fund, and cover issuance costs.
The social bonds are secured by revenues from home mortgage loans and multifamily mortgage loans.
The issuance includes serial and term bonds. All of them were priced at par.
Serial bonds mature between 2025 and 2037, with interest ranging from 3% to 5.651%. Term bonds mature between 2040 and 2055 with interest rates between 4.5% and 5.953%.
The bonds are rated Aaa by Moody’s and AAA by S&P.
RBC Capital Markets is the lead underwriter.
The bonds is expected to be delivered on Feb. 6.
Provided by Dow Jones Jan 30, 2025 10:54am
By Paulo Trevisani
Write to Paulo Trevisani at [email protected]
(END) Dow Jones Newswires
January 30, 2025 13:54 ET (18:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.