Iowa to Sell $74 Million of Single-Family Mortgage Bonds
By Chris Wack
The Iowa Finance Authority is offering $74 million of single-family mortgage bonds to finance the purchase of mortgage-backed securities.
The offering will be made in two tranches--a $48 million Series 2025 G issue of non-AMT social bonds, and a $26 million Series 2025 H taxable issue, according to documents on MuniOS.
The bonds, usually used to make loans for low to middle income housing or projects, will be used to buy mortgage-backed securities, guaranteed as to timely payment of principal and interest by the Government National Mortgage Association, Fannie Mae, or Freddie Mac. Proceeds from those bonds will then be deposited into a 2025 Series GH FirstHome Acquisition Account and a 2025 Series H Homes for Iowans Acquisition Account.
The bonds will be dated and delivered on or about Dec. 11.
The Series 2025 G bonds will begin maturing on Jan. 1, 2030, with final maturity on July 1, 2050. The Series 2025 H bonds will begin maturing on Jan. 1, 2027, with final maturity of July 1, 2055.
Interest payments will be made starting on July 1, 2026 and again on Jan. 1.
The authority was created to assist with the purchase of adequate housing for low and moderate income families, and undertake various finance programs.
The bonds are rated AAA by S&P Global Ratings.
RBC Capital Markets is listed as the offering's manager.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 28, 2025 15:15 ET (19:15 GMT)
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