By Chris Wack
The South Carolina State Housing Finance and Development Authority is selling $178 million of mortgage revenue bonds, with proceeds being used to finance mortgage loans for single-family residences in the state.
The Series 2025 B bonds are also being used to fund the bond reserve requirement and certain other funds and accounts, according to documents posted Friday on MuniOS.
The Non-AMT Series 2025 B bonds are special obligations of the authority, payable solely from the money, income and receipts of the authority.
The authority was created in 1971 to investigate housing conditions; to buy, own and lease personal property; and build, rebuild and operate housing developments, among other things.
Interest on the bonds will be payable semi-annually beginning Jan. 1, 2026. The bonds mature from 2026 through 2055. Interest and yields have not been set.
Moody's has given the bonds a rating of Aaa.
BofA Securities is lead manager for the offering.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 02, 2025 12:58 ET (16:58 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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