The New Mexico Finance Authority is expected to come to market with $45 million1 Senior Lien Public Project Revolving Fund Revenue and Refunding Bonds, Series 2019B (the "Bonds").
The Bonds are being issued by the New Mexico Finance Authority for the purposes of (i) originating Loans to or purchasing Securities from, or reimbursing the Finance Authority for moneys used to originate Loans to or purchase securities from, certain governmental entities, the proceeds of which will be or were used to finance or refinance certain Projects for such governmental entities, (ii) refunding the Refunded Obligations to achieve debt service savings, and (iii) paying costs incurred in connection with the issuance of the Series 2019B bonds. A a portion of the proceeds of the Series in bonds issued to finance environmentally beneficial projects. See the Preliminary Official Statement for more details.
The Bonds are special limited obligations of the Finance Authority, payable, together with additional bonds issued or to be issued, solely from and secured solely by the Trust Estate. The Bonds will not constitute or create a general obligation or other indebtedness of the State of New Mexico, the Finance Authority, or any Governmental Unit with the meaning of any constitutional or statutory deb limitation. The Finance Authority has no taxing powers.
The bonds are expected to be rated AAA by S&P, and Aa1 by Moody's respectively.2
The bonds are subject to optional and mandatory sinking fund redemption prior to maturity as described in the Preliminary Official Statement.
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. New Mexico residents enjoy state tax-exemption on the bond coupon payments.
How to place an order
The offering is expected to price the week of June 10, 20191 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.