By Sheri Kasprzak
New York, Feb. 5 - The Dormitory Authority of the State of New York priced $418.035 million in series 2009 state personal income tax revenue bonds on Thursday, said Marc Violette, spokesman for the authority.
The bonds are due 2010 to 2028 with a term bond due 2038. The coupons on the serials range from 2% to 5% with yields ranging from 0.7% to 4.82%. The 2038 bonds have a 5% coupon to yield 5.08%.
The sale included $148.855 million in series 2009A education bonds, $93.76 million in series 2009A health care bonds, $24.55 million in series 2009A state facilities and equipment bonds and $150.87 million in series 2009A economic development and housing bonds.
Citigroup Global Markets Inc. was the senior manager for the sale. The co-managers included Loop Capital Markets LLC; M.R. Beal & Co.; Barclays Capital Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Merrill Lynch & Co.; Morgan Stanley & Co. Inc.; RBC Capital Markets Corp.; Southwest Securities Inc.; and Sterne, Agee & Leach Inc.
Proceeds will be used for capital grants to local schools and health care systems, as well as for economic development grants under a variety of state programs.
| Issuer: | Dormitory Authority of the State of New York
|
| Issue: | Series 2009A state personal income tax revenue bonds
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| Amount: | $418.035 million
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| Type: | Negotiated
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| Underwriters: | Citigroup Global Markets Inc. (lead); Loop Capital Markets LLC; M.R. Beal & Co.; Barclays Capital Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Merrill Lynch & Co.; Morgan Stanley & Co. Inc.; RBC Capital Markets Corp.; Southwest Securities Inc.; and Sterne, Agee & Leach Inc.
|
| Maturities: | 2010 to 2028 with term bond due 2038
|
| Coupons: | 2% to 5%
|
| Yields: | 0.7% to 5.08%
|
| Pricing date: | Feb. 5
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