The Connecticut Housing Finance Authority (the Authority) is expected to come to market with $32 million1 in Housing Mortgage Finance Program Revenue Bonds, 2018 Series D, Subseries D-1 (the Bonds).
The proceeds of the offered bonds, along with other available monies under the resolution, are expected to be used: (i) within 90 days of the date of issuance thereof, to 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 multifamily mortgage loans; (ii) for the financing of multifamily mortgage loans; and (iii) to pay certain costs of issuance.
The Bonds are general obligations of the Authority are payable from revenues derived by the Authority from the operations of its Housing Mortgage Finance Program together with all other monies legally available. This includes any amounts certified by the Chairperson of the Authority as necessary to restore the Housing Mortgage Capital Reserve Fund to the required minimum capital reserve and deemed appropriated from the state’s general fund and paid to the Authority pursuant to the Act.
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. See the Preliminary Official Statement for more details.
The bonds are expected to be rated AAA by S&P and AAA by Moody's.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; and, for Connecticut residents, federal and state tax-exemption on the bond coupon payments.
How to place an order
Individual investors may place orders during the week of October 8, 20181, 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.