By Sheri Kasprzak
New York, Feb. 23 - The City of New York priced $950 million of series 2012E-F general obligation bonds, according to a pricing sheet. The deal was upsized from $800 million, said a market insider.
The exact pricing terms were not immediately available.
The series 2012E bonds are due 2012 to 2024 with 2.5% to 5% coupons. The 2012F bonds are due 2013 to 2032 with coupons from 2% to 5%.
The bonds (Aa2/AA) were sold on a negotiated basis with Morgan Stanley & Co. LLC as the senior manager. The co-managers were Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co. Inc.; Fidelity Capital Markets LLC; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wells Fargo Bank, NA; Cabrera Capital Markets LLC; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets LLC; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities (USA) Inc.
Proceeds will be used to finance the city's capital plan.
| Issuer: | City of New York
|
| Issue: | Series 2012E-F general obligation bonds
|
| Amount: | $950 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead); Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co. Inc.; Fidelity Capital Markets LLC; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wells Fargo Bank, NA; Cabrera Capital Markets LLC; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets LLC; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities (USA) Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Feb. 23
|
| Settlement date: | March 8
|
|
|
| Series 2012E G.O. bonds
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 2.5%
|
| 2013 | Serial | 2.5%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 3%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 2%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 4%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 4%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
|
|
| Series 2012F G.O. bonds
|
| Maturity | Type | Coupon
|
| 2013 | Serial | 2.5%
|
| 2014 | Serial | 2%
|
| 2014 | Serial | 4%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 3%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 3%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 3%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 2%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 4%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 4%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 5%
|
| 2027 | Serial | 4%
|
| 2027 | Serial | 5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 5%
|
| 2030 | Serial | 5%
|
| 2031 | Serial | 5%
|
| 2032 | Serial | 3.125%
|
| 2032 | Serial | 5%
|
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