Utah Housing Corp. Selling $50 Million of Bonds to Help Finance Loan for Rental Project
By Zaeem Shoaib
The Utah Housing Corp. plans to issue $50 million of bonds to finance a loan for acquiring a housing project located in South Salt Lake.
The corporation will sell $50 million of Multifamily Housing Revenue Bonds Series 2025, due June 1, 2044, according to documents posted Monday on MuniOS.
Interest rates and pricing information was unavailable. Interest is payable semiannually on June 1 and Dec. 1.
The bonds are being issued to finance a loan to SSL Affordable Phase I and will allow it to pay part of the cost of acquiring, constructing and equipping a 255-unit multifamily rental housing project located in South Salt Lake, Utah, to be known as South Salt Lake Market Center.
Construction of the project is expected to commence promptly upon issuance of the bonds and is expected to be completed in about 30 months.
The bonds will be secured by certain investments or other funds, along with earnings thereon, to pay all of the interest when due and to pay the principal of the bonds.
Moody's has assigned an Aa1 rating to the bonds.
KeyBanc Capital Markets is acting as lead underwriter for the issuance.
Write to Zaeem Shoaib at zaeem.shoaib@wsj.com
(END) Dow Jones Newswires
November 03, 2025 13:04 ET (18:04 GMT)
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