February 13, 2018

CHFA issues $118M in housing bonds

Connecticut's public financier of housing says 690 single-family mortgages can be funded through its recent sale of $118 million in low-interest bonds.

The Connecticut Housing Finance Authority (CHFA) said the top-rated bonds drew a higher-than-expected number of investors, resulting in lower costs for the issue sold on Feb. 6.

The agency said it was the first state housing agency to issue debt since implementation of federal tax reform, making this a closely watched sale by investors seeking better investment yields.

CHFA said last year it issued bonds totaling $693 million -- enough to fund almost 3,000 home loans.

Bank of America Merrill Lynch was the sale's senior manager. Co-bond counsels are Kutak Rock, Hawkins Delafield & Wood, and Lewis & Munday. Lamont Financial Services Corp. is CHFA's financial advisor.

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