Mississippi Home Corporation to Offer $86.2M in Bonds to Support Affordable Housing

Dow Jones12-19 23:08

By Patrick Sheridan

Mississippi Home Corporation will sell approximately $86.2 million in bonds to help finance mortgage loans to low or moderate income single family homebuyers.

The agency will offer $72 million in Series 2026 A non-AMT Single Family Mortgage Revenue Bonds consisting of approximately $5 million in serial bonds with maturities ranging from 2035 to 2037 and approximately $67 million in term bonds with maturities ranging from 2040 to 2055. The agency will also offer $14.2 million in Series 2026 B Single Family Mortgage Revenue Bonds with maturities ranging from 2026 to 2035, according to the preliminary official statement posted Thursday on MuniOS. Pricing information, including interest rates and yields for the bonds, was unavailable.

Interest on the bonds is payable each June 1 and Dec. 1.

The bonds, together with interest thereon, are limited obligations of the Corporation payable solely and only from amounts derived by the Corporation from revenues.

Proceeds will be used to finance the purchase of Ginnie Mae Certificates, Fannie Mae Securities, Freddie Mac Participation Certificates and other securities backed by pools of mortgage loans made to individuals for the purpose of financing owner-occupied, single family residences located in the state.

The Mississippi Home Corporation was created in 1989 to help increase the quality and affordability of housing stock available to low and moderate income Mississippians. According to MHC's website, the Corporation plays an important role in these efforts working with the Governor, the Mississippi Legislature, the U.S. Congressional delegation, and others in the affordable housing industry to develop private and public partnerships throughout the state and nation to increase the awareness of Mississippi's desperate need for affordable housing.

Moody's Ratings is expected to issue an Aa1 rating to the bonds according to the preliminary official statement.

Raymond James and Wells Fargo Securities are the underwriters of the offering.

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

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December 19, 2025 10:08 ET (15:08 GMT)

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Mississippi Home Corporation to Offer $86.2M in Bonds to Support Affordable Housing

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