By Sheri Kasprzak
New York, Dec. 15 - The City of New York priced $1.35 billion of series 2011 general obligation bonds on Wednesday, said a pricing sheet.
The deal included $902 million of series 2011F-1 Build America Bonds, $148 million of series 2011F-2 taxable bonds, $245 million of series 2011G tax-exempt bonds and $55 million of series 2011H tax-exempt bonds.
J.P. Morgan Securities LLC was the senior manager. Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co. Inc.; Fidelity Capital Markets Inc.; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wells Fargo Securities LLC; Cabrera Capital Markets LLC; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets Corp.; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities Inc. were the co-managers for the 2011F-1, 2011G and 2011H bonds.
The 2011F-1 bonds are due 2018 to 2024 with term bonds due 2031 and 2037 with serial coupons from 4.787% to 5.887%, all priced at par. The 2031 bonds have a 6.646% coupon priced at par and the 2037 bonds have a 6.271% coupon priced at par.
The 2011F-2 bonds are due 2012 to 2017 with 1.62% to 4.13% coupons, all priced at par.
The 2011G bonds are due 2012 to 2020 with 3% to 5% and the 2011H bonds are due 2011 to 2020 with 2% to 5% coupons.
Proceeds will be used to fund capital expenditures.
| Issuer: | City of New York
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $1.35 billion
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co. Inc.; Fidelity Capital Markets Inc.; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wells Fargo Securities LLC; Cabrera Capital Markets LLC; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets Corp.; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities Inc. (co-managers for 2011F-1, 2011G and 2011H)
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 21 for 2011F bonds; Jan. 4 for 2011G and 2011H bonds
|
|
|
| $902 million series 2011F-1
|
| Amount | Maturity | Type | Coupon | Price
|
| $28.98 million | 2018 | Serial | 4.787% | 100
|
| $30.3 million | 2019 | Serial | 4.937% | 100
|
| $31.725 million | 2020 | Serial | 5.037% | 100
|
| $32.995 million | 2021 | Serial | 5.237% | 100
|
| $30 million | 2022 | Serial | 5.487% | 100
|
| $28 million | 2023 | Serial | 5.687% | 100
|
| $20 million | 2024 | Serial | 5.887% | 100
|
| $275 million | 2031 | Term | 6.646% | 100
|
| $425 million | 2037 | Term | 6.271% | 100
|
|
|
| $148 million series 2011F-2
|
| Amount | Maturity | Type | Coupon | Price
|
| $20.78 million | 2012 | Serial | 1.62% | 100
|
| $21.075 million | 2013 | Serial | 1.91% | 100
|
| $25.35 million | 2014 | Serial | 2.67% | 100
|
| $26.065 million | 2015 | Serial | 3.17% | 100
|
| $26.87 million | 2016 | Serial | 3.73% | 100
|
| $27.86 million | 2017 | Serial | 4.13% | 100
|
|
|
| $245 million series 2011G
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 3%
|
| 2012 | Serial | 4%
|
| 2012 | Serial | 5%
|
| 2013 | Serial | 3%
|
| 2013 | Serial | 4%
|
| 2013 | Serial | 5%
|
| 2014 | Serial | 3%
|
| 2014 | Serial | 4%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 3%
|
| 2015 | Serial | 4%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 3%
|
| 2016 | Serial | 4%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 3%
|
| 2017 | Serial | 4%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 3.125%
|
| 2018 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 3.5%
|
| 2019 | Serial | 4%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 3.75%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
|
|
| $55 million series 2011H
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 2%
|
| 2012 | Serial | 5%
|
| 2013 | Serial | 5%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
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