South Carolina Authority Issues $173M in Bonds for Mortgage Financing

Dow Jones

20 Dec 2024

By Patrick Sheridan

The South Carolina State Housing Finance and Development Authority, known as SC Housing, is selling $173 million in municipal bonds to finance mortgage loans for single family residences in South Carolina.

The authority is issuing $24.8 million in Series 2025 A mortgage revenue serial bonds with maturities ranging from 2026 through 2037. SC Housing is also issuing five Series 2025 A term bonds in the amount of $148 million with maturities ranging from 2040 to 2055, according to the preliminary official statement Wednesday on MuniOS. Initial pricing information on the securities wasn't available.

The tax-exempt bonds are special obligations of SC Housing secured by the revenues, money's and property of the authority pledged for payment under the authority's general bond resolution.

According to its website, SC Housing creates affordable housing opportunities through a broad range of programs that provide competitive market-based financial products for homeownership and comprehensive home repair programs that also provide accessibility. SC Housing finances housing programs that include services for vulnerable residents, as well as multifamily projects that increase the availability of quality rental homes.

Moody's Ratings has assigned an Aaa rating to the bonds.

BofA Securities is the lead underwriter on the offering.

Write to Patrick Sheridan at patrick.sheridan@wsj.com

(END) Dow Jones Newswires

December 19, 2024 11:41 ET (16:41 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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SC Housing is also issuing five Series 2025 A term bonds in the amount of $148 million with maturities ranging from 2040 to 2055, according to the preliminary official statement Wednesday on MuniOS. Initial pricing information on the securities wasn't available. \n</p>\n<p>\n  The tax-exempt bonds are special obligations of SC Housing secured by the revenues, money's and property of the authority pledged for payment under the authority's general bond resolution. \n</p>\n<p>\n  According to its website, SC Housing creates affordable housing opportunities through a broad range of programs that provide competitive market-based financial products for homeownership and comprehensive home repair programs that also provide accessibility. 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SC Housing is also issuing five Series 2025 A term bonds in the amount of $148 million with maturities ranging from 2040 to 2055, according to the preliminary official statement Wednesday on MuniOS. Initial pricing information on the securities wasn't available. \n\n\n  The tax-exempt bonds are special obligations of SC Housing secured by the revenues, money's and property of the authority pledged for payment under the authority's general bond resolution. \n\n\n  According to its website, SC Housing creates affordable housing opportunities through a broad range of programs that provide competitive market-based financial products for homeownership and comprehensive home repair programs that also provide accessibility. 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