Published on 12/11/2013 in the Prospect News Municipals Daily.
New Issue: New York City brings to market $800.05 million general obligation bonds
By Sheri Kasprzak
New York, Dec. 11 - The City of New York sold $800.05 million of series 2014G-H general obligation bonds, according to a pricing sheet.
The deal included $744,265,000 of series 2014G G.O. bonds and $55,785,000 of series 2014H G.O. bonds.
The 2014G bonds are due 2015 to 2033 with 2% to 5% coupons.
The 2014H bonds are due 2014 to 2025 with 2% to 5% coupons.
The bonds were sold on a negotiated basis with Jefferies & Co. as the senior manager.
Proceeds will be used to redeem existing G.O. bonds.
| Issuer: | New York, N.Y.
|
| Issue: | Series 2014G-H general obligation bonds
|
| Amount: | $800.05 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. (lead), BofA Merrill Lynch; J.P. Morgan Securities LLC; Morgan Stanley & Co. LLC; Citigroup Global Markets Inc.; Siebert Brandford Shank & Co. LLC; Barclays; Goldman, Sachs & Co.; Loop Capital Markets LLC; Raymond James/Morgan Keegan; Roosevelt & Cross Inc.; M.R. Beal & Co.; Janney Montgomery Scott LLC; PNC Capital Markets LLC; RBC Capital Markets LLC; Southwest Securities Inc.; Fidelity Capital Markets Inc.; Lebenthal & Co. LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Wells Fargo Securities LLC; Blaylock Robert Van LLC; Drexel Hamilton LLC; Cabrera Capital Markets LLC; and TD Securities (USA) LLC (co-managers)
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 19
|
|
|
| $744,265,000 series 2014G G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $63.43 million | 2015 | Serial | 2% | 102.805
|
| $4.81 million | 2016 | Serial | 3% | NRO
|
| $47,905,000 | 2016 | Serial | 5% | 111.239
|
| $7.19 million | 2017 | Serial | 3% | NRO
|
| $71,875,000 | 2017 | Serial | 5% | 113.98
|
| $6.56 million | 2018 | Serial | 4% | NRO
|
| $46,155,000 | 2018 | Serial | 5% | 115.795
|
| $4,005,000 | 2019 | Serial | 4% | NRO
|
| $71,635,000 | 2019 | Serial | 5% | 116.149
|
| $3.11 million | 2020 | Serial | 4% | NRO
|
| $49,685,000 | 2020 | Serial | 5% | 115.949
|
| $240,000 | 2021 | Serial | 4% | NRO
|
| $71.41 million | 2021 | Serial | 5% | 115.141
|
| $2,145,000 | 2022 | Serial | 3% | NRO
|
| $515,000 | 2022 | Serial | 4% | NRO
|
| $76.41 million | 2022 | Serial | 5% | 114.674
|
| $2.88 million | 2023 | Serial | 3.25% | NRO
|
| $1.39 million | 2023 | Serial | 4% | NRO
|
| $74,795,000 | 2023 | Serial | 5% | 114.084
|
| $660,000 | 2024 | Serial | 4% | 104.573
|
| $22.22 million | 2024 | Serial | 5% | 113.047
|
| $16,795,000 | 2025 | Serial | 5% | 111.869
|
| $11.22 million | 2026 | Serial | 5% | 110.883
|
| $11,805,000 | 2027 | Serial | 5% | 109.644
|
| $14,435,000 | 2028 | Serial | 4% | NRO
|
| $16,775,000 | 2029 | Serial | 4% | 98.567
|
| $1,335,000 | 2030 | Serial | 4.125% | NRO
|
| $11,975,000 | 2030 | Serial | 5% | 106.959
|
| $13.96 million | 2031 | Serial | 4.25% | 98.774
|
| $14,575,000 | 2032 | Serial | 4.375% | NRO
|
| $2,365,000 | 2033 | Serial | 4.375% | NRO
|
|
|
| $55,785,000 series 2014H G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.36 million | 2014 | Serial | 2% | 101.133
|
| $5.04 million | 2015 | Serial | 2% | 102.805
|
| $3,545,000 | 2016 | Serial | 5% | 111.239
|
| $5.04 million | 2017 | Serial | 5% | 113.98
|
| $3,545,000 | 2018 | Serial | 5% | 115.795
|
| $5.04 million | 2019 | Serial | 5% | 116.149
|
| $5.04 million | 2020 | Serial | 5% | 115.949
|
| $5.04 million | 2021 | Serial | 5% | 115.141
|
| $5.04 million | 2022 | Serial | 5% | 114.674
|
| $5.04 million | 2023 | Serial | 5% | 114.084
|
| $5.04 million | 2024 | Serial | 5% | 113.047
|
| $5,015,000 | 2025 | Serial | 5% | 111.869
|
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