The Connecticut Housing Finance Authority (the "Authority") is expected to come to market with $116 million in 2020 Series A Bonds, consisting of $71 in Subseries A-1 Bonds, $31 in Subseries A-2 (AMT) Bonds, $12 in Subseries A-4 (Federally Taxable) Bonds.
The Connecticut Finance Authority finances home Mortgage Loans and multifamily Mortgage Loans. The proceeds of the Bonds are expected to be used to (i) within 90 days of the date of issuance thereof, refund and/or replace and refund certain current and/or future maturities of outstanding bonds to be paid at maturity or to be redeemed by special and/or optional redemption, which bonds were initially issued in part to finance certain home Mortgage Loans, (ii) provide new monies for the financing of permanent home Mortgage Loans, and (iii) pay certain costs of issuance. See the Preliminary Official Statement for futher details.
The Bonds are general obligations of the Authority for the payment of which the full faith and credit of the Authority are pledged, and are payable from revenues derived from Mortgage Loans financed by the Authority together with other monies legally available therefor, including amounts in the Housing Mortgage Capital Reserve Fund. The Authority has no taxing power. The Bonds do not constitute a debt or liability of the State or a pledge of its faith and credit or taxing power. The Bonds are secured equally and ratably by the pledges and covenants contained in the Preliminary Official Statement.
The 2020 Subseries A-1 and Subseries A-2 are subject to optional redemption prior to maturity date as described in the Preliminary Official Statement. The 2020 Subseries A-4 Bonds are not subject to redemption prior to maturity.
The bond sale offers attractive benefits to individual investors including prices and yield that match those available to institutional investors and the potential for stable income through the call dates. And, for Connecticut residents, federal and state tax-exemption on the Subseries A-1 and Subseries A-2 bond coupon payments.
How to place an order
The offer is expected to price the week of January 27, 20201, either 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 AlertsLog In Required or visit our Municipal Bond New Issue offerings page.