The Tennessee Housing Development Agency ("THDA") is expected to come to market with $104,000,000 Residential Finance Program Bonds Issue 2026-1 (Non-AMT) (Social Bonds), (collectively, the "Bonds").1
Proceeds of the Bonds will be used to (i) finance new Program Loans (including Program Securities and DPA Loans), (ii) refund certain prior Bonds of THDA, (iii) make a deposit to the Bond Reserve Fund, if required, and (iv) pay certain costs of issuance, as described in the Preliminary Official Statement.
The Bonds are special limited obligations of the THDA payable only from the revenues and assets of THDA pledged under the Resolution (as defined in the Preliminary Official Statement) for the payment of the principal or redemption price of and interest on the Bonds. THDA has no taxing power. The Bonds are not a debt, liability or obligation of the State of Tennessee (the “State”) or any political subdivision thereof except THDA. Neither the full faith and credit nor the taxing power of the State, or of any other political subdivision thereof, are pledged for the payment of the principal of or interest on the Bonds. See the Preliminary Official Statement for more details.
Certain maturities of the bonds are subject to redemption prior to maturity as described in the Preliminary Official Statement. The bonds are rated "Aa1" by Moody's and "AA+" by S&P.2
Key benefits
The bond sale offers attractive benefits to individual investors including prices and yields that match those available to institutional investors and the potential for stable income through the call dates. And, for State of Tennessee residents, federal and State of Tennessee tax-exemption on the bond coupon payments.
How to place an order
The offer is expected to price the week of April 27, 2026,1 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.
