By Josh Beckerman
The Texas Department of Housing and Community Affairs sold $250 million of residential mortgage revenue bonds to boost home ownership.
Proceeds from the sale will be used to purchase mortgage-backed pass-through certificates, provide loans for down payment and closing cost assistance, according to a document posted on MuniOS on Monday.
The sale comprised $150 million of Series 2024C bonds and $100 million of taxable Series 2024D bonds.
The Series 2024C included bonds due in July 2034 that priced at par and will pay an interest rate of 3.90%.
Among the Series 2024D, the bonds due in July 2034 also priced at par and will pay an interest rate of 5.198%.
Moody's Ratings and S&P Global Ratings assigned ratings of Aaa and AA+, respectively, to the bonds.
Ramirez & Co. is lead underwriter on the deal.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
07-02-24 1556ET
