HUD Secures Permanent, Fixed-Rate Financing for 115 Section 108 Guaranteed Loans through March Public 2019 Offering
In March 2019 HUD conducted a public offering of Section 108 guaranteed participation certificates in the amount of $327,338,000. The certificates are backed by a pool of promissory notes that were issued by local governments to provide financing for community and economic development projects and guaranteed by HUD. The offering consists of 115 notes from 83 Section 108 borrowers. Through the offering, communities were able to access up to 20-year financing with annual interest rates ranging from 2.54% to 3.635%. The offering circular contains information on rates and other loan terms.