Colorado Sells $150 Million in Bonds to Fund Moderate-Income Housing
By Chris Wack
The Colorado Housing and Finance Authority issued $150 million in bonds to help finance mortgage loans for single-family housing for low- and moderate-income families.
The $116 million in class I F-1 social bonds, which are federally taxable, mature starting Nov. 1, 2025, and end Nov. 1, 2035. Interest rates run from 4.042% to 6%, according to a document posted Friday on MuniOS.
The class I 2024 Series F-2 adjustable rate taxable social bonds, which total $34 million, mature May 1, 2055.
Proceeds from the bonds, together with other available funds, will be used to finance the purchase of certain mortgage backed securities guaranteed by GNMA, Fannie Mae or Freddie Mac and backed by mortgage loans. Proceeds will also be used to finance certain second mortgage loans as well as other needs.
Moody's Investors Service and S&P Global Ratings have assigned the 2024 Series F-1 Bonds ratings of Aaa and AAA, respectively. Moody's and S&P have assigned the 2024 F-2 Bonds ratings of Aaa/VMIG1 and AAA/A-1+, respectively.
BofA Securities, Jefferies and RBC Capital Markets are underwriters.
--Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 23, 2024 12:11 ET (16:11 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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