By Stephen Nakrosis
The Colorado Housing and Finance Authority will sell $65.3 million of municipal bonds to finance construction of a rental housing facility in Arvada, the seventh-most populous city in the state.
The offering will consist of $55.79 million of Class I 2025 Series E-1 bonds and $9.5 million of Class I 2025 Series E-2 debt, according to a preliminary official statement posted Thursday on MuniOS.
A date of sale for the bonds wasn't provided. The securities are scheduled for delivery on or about Feb. 6.
The Series E-1 will be comprised of serial and term bonds, with the former maturing from April 2029 through October 2037, and the latter from 2040 through 2068. The Series E-2 debt is comprised of a single term bond maturing in October 2029.
Proceeds from the offering will be used to finance the acquisition, construction and equipping of the Marshall Pointe Housing Facility, a 260-unit residential facility that is expected to cost about $128 million.
The bonds are an obligation of the authority, and don't constitute an obligation or liability of the state.
Moody's and S&P Global Ratings assigned the debt ratings of Aaa and AAA, respectively.
Jefferies is lead manager on the sale.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
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