Printer Friendly

U.S. BANK TO MARKET $9 MILLION IN KING COUNTY HOUSING BONDS FOR AFFORDABLE HOUSING UNITS

 U.S. BANK TO MARKET $9 MILLION IN KING COUNTY HOUSING BONDS
 FOR AFFORDABLE HOUSING UNITS
 SEATTLE, Aug. 19 /PRNewswire/ -- U.S. Bank announced today a $9-million bond offering that will allow the King County Housing Authority to finance two low-to-moderate income resident housing facilities and refinance a mobile home park for elderly renters. The properties are located respectively in North Seattle, Kent and Black Diamond.
 In total, 226 living units are involved in the combined purchase and refinancing bond package. U.S. Bank was appointed by the King County Housing Authority to serve as an underwriter and marketer of the affordable housing bonds.
 The non-rated, tax-exempt municipal bonds will go on sale on or around Aug. 20, according to David McRae, vice president of public finance for U.S. Bank. The bond sale closes in early September.
 "We are very pleased that U.S. Bank has agreed to serve as an underwriter for this bond sale," said Dan Watson, assistant director of the King County Housing Authority. "U.S. Bank has plenty of experience with larger bond issues and was willing to commit to an attractive market rate. This type of financing allows us to maintain a supply of affordable living units available for low-to-moderate income families and elderly residents," Watson added.
 The three projects being purchased or refinanced by the King County Housing Authority are:
 - Woodlands North at 155th & Lake City Way, Seattle, with 105 units
 - Parkwood at 104th Ave., Kent, with 90 units
 - Rainier View Mobile Park (a manufactured home park), located
 in Black Diamond
 "We look at all aspects of a proposed bond issue like this one, and then, if the fundamentals are right, we make a decision to commit to the underwriting," said McRae. "U.S. Bank is able to market this kind of bond package because we have a good sense of the potential market and know where to find investors who are interested in this type of quality investment."
 For information regarding purchase of the King County Housing Authority bonds, contact Jim Farmer at U.S. Bank's Investor Services Group in Seattle, 206-344-7854.
 U.S. Bank of Washington is a subsidiary of U.S. Bancorp (NASDAQ: USBC), the largest financial services company headquartered in the Northwest, with assets of $19.3 billion as of June 30. Other U.S. Bancorp subsidiaries include U.S. Bank of Oregon, U.S. Bank of Idaho and U.S. Bank of California.
 -0- 8/19/92
 /CONTACT: Cindy Duryee, 206-344-5311, or Mary Ruble, 503-275-6200, both of U.S. Bank/
 (USBC) CO: U.S. Bank of Washington; U.S. Bancorp; King County Housing
 Authority ST: Washington IN: FIN SU:


JH-SC -- SE002 -- 1344 08/19/92 12:47 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 19, 1992
Words:450
Previous Article:DBA SYSTEMS REPORTS FOURTH QUARTER AND YEAR END RESULTS
Next Article:INFINITI ANNOUNCES 1993 G20 PRICING
Topics:


Related Articles
WASHINGTON MUTUAL INVESTS $2 MILLION TO DEVELOP AFFORDABLE HOUSING IN KING, SNOHOMISH AND PIERCE COUNTIES
WASHINGTON STATE HOUSING FINANCE COMMISSION COMPLETES $1.94 MILLION BOND FINANCING FOR SUMMERFIELD APARTMENTS IN AUBURN
WASHINGTON STATE HOUSING FINANCE COMMISSION COMPLETES $1.2 MILLION BOND FINANCING FOR REHABILITATION OF LOW-INCOME APARTMENTS IN PIERCE COUNTY
WASHINGTON STATE HOUSING FINANCE COMMISSION COMPLETES $1.25 MILLION BOND ISSUE FOR APARTMENTS FOR THE ELDERLY IN LONGVIEW
WASHINGTON STATE HOUSING FINANCE COMMISSION COMPLETES $10.6 MILLION BOND ISSUE FOR AFFORDABLE APARTMENTS IN OLYMPIA
WASHINGTON STATE HOUSING FINANCE COMMISSION COMPLETES $3.75 MILLION BOND ISSUE FOR AFFORDABLE APARTMENTS IN TUKWILA
WASHINGTON STATE HOUSING FINANCE COMMISSION COMPLETES $3.45 MILLION BOND ISSUE FOR AFFORDABLE APARTMENTS IN DES MOINES
Charter Municipal Mortgage Acceptance Company Announces Two Tax-Exempt Bond Acquisitions Totaling $20.1 Million.
Charter Municipal Mortgage Acceptance Company Announces Three Bond Acquisitions and Increases Its 1999 Acquisition Goal to $175 Million.
Bank of America Provides $8.6 Million in Financing to Preserve Affordable Housing on Chicago's South Side.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters