The Authority is expected to come to market with $250,000,000 Mortgage Revenue Bonds Series B, $150,000,000 Series 2026 B-1 Non-AMT, $100,000,000 Series B-2 Federally Taxable, (collectively, the "Bonds")1.
Proceeds of the Bonds will be used to (i) to finance directly or indirectly Mortgage Loans for single family residences in South Carolina pursuant to the Authority’s Mortgage Revenue Bond Program including payment of a servicing release premium, (ii) to refund certain Outstanding Mortgage Revenue Bonds of the Authority, (iii) to fund the Bond Reserve Requirement and certain other Funds and Accounts with respect to the Bonds, and (iv) to pay the costs of issuing the Bonds, as defined in the Preliminary Official Statement.
The Bonds are special obligations of the Authority secured by the revenues, moneys, and property of the Authority pledged for the payment thereof under the Resolution. The Resolution does not limit the amount of Bonds which may be issued under it. Payment of the principal or redemption price of, and interest on, all Bonds is secured ratably and equally by the assets pledged under the Resolution. The Bonds do not constitute a debt or grant or loan of credit of the State or any political subdivision of the state and neither the state or any political subdivision thereof is liable thereon. The Bonds are not payable out of any funds other than those of the Authority pledged therefor under the Resolution. The Authority has not taxing power. The South Carolina Supreme Court has held that the State may not use appropriated money to pay the indebtedness represented by the Authority's Bonds.. See the Preliminary Official Statement for more details.
The Bonds are subject to redemption prior to maturity as defined in the Preliminary Official Statement. The Bonds are rated "Aaa" by Moody's.2.
Key benefits
The bond sale offers attractive benefits to individual investors including prices and and yields that match those available to institutional investors and the potential for stable income through maturity. And, for State of South Carolina residents, federal and State of South Carolina tax-exemption on the bond coupon payments.
How to place an order
The offer is expected to price the week of June 22, 20261 although market conditions and/or the discretion of the issuer may alter the anticipated timeline. Individual investors can place orders online or by calling a Fidelity representative at 800-544-5372. To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity Alerts and see our Municipal Bond New Issue Offerings.
