Published on 3/20/2012 in the Prospect News Municipals Daily.
New Issue: New York City brings $470 million of general obligation bonds
By Sheri Kasprzak
New York, March 20 - The City of New York priced $470 million of series 2012G general obligation bonds, according to a term sheet.
The offering included $370 million of series 2012G-1 tax-exempt bonds and $100 million of series 2012G-2 taxable bonds.
The 2012G-1 bonds are due 2014 to 2029 with 5% coupons. The 2012G-2 bonds are due 2014 to 2020 with 0.55% to 2.65% coupons.
The bonds (Aa2//AA) were sold competitively with Wells Fargo Securities LLC winning the 2012G-1 bonds and J.P. Morgan Securities LLC winning the 2012G-2 bonds.
Proceeds will be used to finance capital projects.
Issuer: | City of New York
|
Issue: | Series 2012G general obligation bonds
|
Amount: | $470 million
|
Type: | Competitive
|
Underwriters: | Wells Fargo Securities LLC (winner for 2012G-1 bonds); J.P. Morgan Securities LLC (winner for 2012G-2 bonds)
|
Ratings: | Moody's: Aa2
|
| Fitch: AA
|
Pricing date: | March 20
|
Settlement date: | April 5
|
|
$370 million series 2012G-1 tax-exempt bonds
|
Amount | Maturity | Type | Coupon | Price
|
$7.41 million | 2014 | Serial | 5% | 108.79
|
$7.86 million | 2015 | Serial | 5% | 112.538
|
$8,405,000 | 2016 | Serial | 5% | 115.391
|
$11.12 million | 2017 | Serial | 5% | 117.816
|
$11.93 million | 2018 | Serial | 5% | 118.714
|
$12,845,000 | 2019 | Serial | 5% | 119.476
|
$18.85 million | 2020 | Serial | 5% | 119.601
|
$30.06 million | 2021 | Serial | 5% | 119.569
|
$31,565,000 | 2022 | Serial | 5% | 119.825
|
$33.14 million | 2023 | Serial | 5% | 119.952
|
$34.8 million | 2024 | Serial | 5% | 120.014
|
$36.54 million | 2025 | Serial | 5% | 120.187
|
$38,365,000 | 2026 | Serial | 5% | 120.17
|
$40.28 million | 2027 | Serial | 5% | 119.974
|
$22,265,000 | 2028 | Serial | 5% | 120.021
|
$24,565,000 | 2029 | Serial | 5% | 120.518
|
|
$100 million series 2012G-2 taxable bonds
|
Amount | Maturity | Type | Coupon | Price
|
$15 million | 2014 | Serial | 0.55% | 99.861
|
$15 million | 2015 | Serial | 1% | 99.882
|
$15 million | 2016 | Serial | 1.4% | 99.691
|
$15 million | 2017 | Serial | 1.7% | 99.382
|
$15 million | 2018 | Serial | 2.1% | 99.497
|
$15 million | 2019 | Serial | 2.45% | 100.063
|
$10 million | 2020 | Serial | 2.65% | 100.071
|
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