By Sheri Kasprzak
New York, Dec. 12 - New York City priced $308 million in series 2009G general obligation bonds, said an official statement released Friday.
The bonds (Aa3//AA-) were sold Wednesday on a negotiated basis with J.P. Morgan Securities Inc. as the lead manager. The co-managers were Citigroup Global Markets; Merrill Lynch & Co.; Morgan Stanley & Co.; Banc of America Securities LLC; Barclays Capital; M.R. Beal & Co.; Depfa First Albany Securities; Goldman, Sachs & Co.; Loop Capital Markets; Prager, Sealy & Co.; Ramirez & Co.; RBC Capital Markets; Siebert Brandford Shank & Co.; Wachovia Bank; Cabrera Capital Markets; Commerce Capital Markets; Jackson Securities; Janney Montgomery Scott; Raymond James & Associates; Roosevelt & Cross; and Southwest Securities.
The sale included $300 million in series 2009G-1 tax-exempt bonds and $8 million in series 2009G-2 taxable bonds.
The 2009G-1 bonds are due from 2010 to 2031 with a term bond due 2035. The coupons range from 3% to 6.25% with yields from 2.7% to 6.45%.
The 2009G-2 bonds are due 2014 and 2015 with 6% coupons and yields from 6.07% to 6.15%.
Proceeds will be used for capital purposes.
| Issuer: | New York City
|
| Issue: | Series 2009G general obligation bonds
|
| Amount: | $308 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Citigroup Global Markets; Merrill Lynch & Co.; Morgan Stanley & Co. Inc.; Banc of America Securities LLC; Barclays Capital; M.R. Beal & Co.; Depfa First Albany Securities; Goldman, Sachs & Co.; Loop Capital Markets; Prager, Sealy & Co.; Ramirez & Co.; RBC Capital Markets; Siebert Brandford Shank & Co.; Wachovia Bank; Cabrera Capital Markets; Commerce Capital Markets; Jackson Securities; Janney Montgomery Scott; Raymond James & Associates; Roosevelt & Cross; and Southwest Securities (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 18
|
|
|
| Series 2009G-1 bonds
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3% | 2.70%
|
| 2011 | Serial | 3% | 3.00%
|
| 2012 | Serial | 3.375% | 3.50%
|
| 2013 | Serial | 4% | 3.70%
|
| 2014 | Serial | 4% | 3.90%
|
| 2015 | Serial | 4.125% | 4.10%
|
| 2016 | Serial | 4.375% | 4.40%
|
| 2016 | Serial | 5% | 4.40%
|
| 2017 | Serial | 4.625% | 4.65%
|
| 2017 | Serial | 5% | 4.65%
|
| 2018 | Serial | 4.875% | 4.875%
|
| 2018 | Serial | 5% | 4.875%
|
| 2019 | Serial | 5% | 5.125%
|
| 2020 | Serial | 5.25% | 5.40%
|
| 2021 | Serial | 5.5% | 5.55%
|
| 2022 | Serial | 5.625% | 5.70%
|
| 2023 | Serial | 5.7% | 5.81%
|
| 2024 | Serial | 5.75% | 5.92%
|
| 2025 | Serial | 6% | 6.00%
|
| 2026 | Serial | 6% | 6.08%
|
| 2027 | Serial | 6% | 6.18%
|
| 2028 | Serial | 6% | 6.25%
|
| 2029 | Serial | 6.25% | 6.34%
|
| 2030 | Serial | 6.25% | 6.37%
|
| 2031 | Serial | 6.25% | 6.40%
|
| 2035 | Term | 6.25% | 6.45%
|
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