Amadeusz Juskowiak

Alaska housing has 150 mln dlr syndicated loan

Alaska Housing Finance Corp a local US Government agency has become the first municipal entity to tap the syndicated loan market receiving a 150 mln dlr sevenyear revolving loan said Merrill Lynch Capital Markets as arranger

Merrill said the loan is a backup to a proposed eurocommercial paper program

The syndicated loan which is unsecured carries a commitment fee of 010 pct per year Advances will be priced at 3114 basis points over the London Interbank Offered Rate while notes which need only be purchased by banks if third party investors agree to buy them as well will be priced at offering

Alaska Housing Finance was established by the legislature of the state of Alaska in 1971 and has so far acquired 61 billion dlrs of mortgages originated in Alaska