Avalon Properties Refinances $90,727,000 of Tax-Exempt Bonds With Fannie Mae Credit Enhancement Facility

PR Newswire | August 14, 1996 | Copyright

WILTON, Conn., Aug. 14 /PRNewswire/ -- Avalon Properties, Inc. (NYSE: AVN) announced the refinancing of $90,727,000 of tax-exempt bonds. The refinancing includes the reissuance of certain tax-exempt bonds in conjunction with the completion of a Fannie Mae tax-exempt credit enhancement facility. The primary benefit of the facility is the long-term credit enhancement and liquidity features provided for existing and future tax-exempt bonds used to finance the acquisition and development of apartment communities. This facility replaces the bank provided credit enhancements that ...

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