Published on 9/28/2011 in the Prospect News Municipals Daily.
New Issue: New York City brings $510.5 million of tax-exempt G.O. bonds
By Sheri Kasprzak
New York, Sept. 28 - The City of New York sold Wednesday $510.495 million of series 2012D-1 tax-exempt general obligation bonds, said a pricing sheet.
The bonds (Aa2/AA/AA) were sold through Siebert Brandford Shank & Co. LLC. The co-managers were Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
The bonds are due 2017 to 2034 with a term bond due in 2036. The serial coupons range from 3.5% to 5%. The 2036 bonds have a split maturity with a 4.125% coupon priced at par and a 5% coupon to yield 4.11%.
Proceeds will be used to fund capital requirements.
| Issuer: | City of New York
|
| Issue: | Series 2012D-1 tax-exempt general obligation bonds
|
| Amount: | $510.495 million
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. LLC (lead), Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 13
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $2.04 million | 2017 | Serial | 4% | 1.67%
|
| $14.605 million | 2017 | Serial | 5% | 1.67%
|
| $4.725 million | 2018 | Serial | 3% | 1.96%
|
| $13.755 million | 2018 | Serial | 5% | 1.96%
|
| $315,000 | 2019 | Serial | 3.5% | 2.28%
|
| $5.02 million | 2019 | Serial | 4% | 2.28%
|
| $13.975 million | 2019 | Serial | 5% | 2.28%
|
| $740,000 | 2020 | Serial | 3.5% | 2.52%
|
| $1.85 million | 2020 | Serial | 4% | 2.52%
|
| $17.605 million | 2020 | Serial | 5% | 2.52%
|
| $740,000 | 2021 | Serial | 3.5% | 2.67%
|
| $3.515 million | 2021 | Serial | 4% | 2.67%
|
| $13.76 million | 2021 | Serial | 5% | 2.67%
|
| $2.835 million | 2022 | Serial | 4% | 2.86%
|
| $19.305 million | 2022 | Serial | 5% | 2.86%
|
| $280,000 | 2023 | Serial | 3.5% | 3.04%
|
| $1.305 million | 2023 | Serial | 4% | 3.04%
|
| $21.635 million | 2023 | Serial | 5% | 3.04%
|
| $24.36 million | 2024 | Serial | 5% | 3.24%
|
| $25.58 million | 2025 | Serial | 5% | 3.39%
|
| $26.86 million | 2026 | Serial | 5% | 3.51%
|
| $17.8 million | 2027 | Serial | 5% | 3.61%
|
| $7.75 million | 2028 | Serial | 5% | 3.71%
|
| $30.885 million | 2029 | Serial | 5% | 3.80%
|
| $32.425 million | 2030 | Serial | 5% | 3.90%
|
| $34.05 million | 2031 | Serial | 5% | 3.98%
|
| $35.745 million | 2032 | Serial | 5% | 4.03%
|
| $37.525 million | 2033 | Serial | 5% | 4.07%
|
| $3.07 million | 2034 | Serial | 3.875% | 4.09%
|
| $36.305 million | 2034 | Serial | 5% | 4.09%
|
| $15,000 | 2036 | Term | 4.125% | 4.125%
|
| $60.12 million | 2036 | Term | 5% | 4.11%
|
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