CharterMac Subs Close Securitization, LOC

Charter Municipal Mortgage Acceptance Co., New York, has announced that a subsidiary has closed a $100 million bond securitization and another subsidiary has closed a $75 million revolving credit facility.In the securitization, Tax-Exempt Multifamily Housing Trust Certificates Series 2003A, CharterMac and its consolidated subsidiaries contributed 19 fixed-rate, tax-exempt multifamily housing and senior housing revenue bonds totaling about $196.8 million, the company said. Out of the trust were sold $100 million in class A certificates to institutional investors via Merrill Lynch, Pierce, Fenner & Smith Inc. The credit facility, a secured revolving tax-exempt bond warehouse line of credit, has a two-year term, with a one-year extension option. It bears interest at 150 basis points above the London interbank offered rate or 25 bps above the prime rate, the company said. CharterMac, an investor in the financing of affordable multifamily housing, can be found on the Web at http://www.chartermac.com.