By Sheri Kasprzak
New York, March 17 - The Dormitory Authority of the State of New York priced $62.33 million in series 2009A school district revenue bond financing program revenue bonds, according to an official statement.
The bonds (A2/A+/A) were sold through lead manager Roosevelt & Cross Inc. with co-managers Ramirez & Co. Inc. and Wachovia Bank.
The bonds are due 2010 to 2019 with term bonds due 2024 and 2029. The serials have coupons from 2% to 5% and yields from 1.37% to 4.52%. The 2024 bonds have a 5% coupon to yield 5.18%, and the 2029 bond have a 5.625% coupon to yield 5.6%.
Proceeds will be used to refinance bond anticipation notes and finance facilities and equipment for the Caledonia-Mumford Central School District, Canisteo-Greenwood Central School District, Groton Central School District and City School District of the City of Hudson.
| Issuer: | Dormitory Authority of the State of New York
|
| Issue: | Series 2009A school district revenue bond financing program revenue bonds
|
| Amount: | $62.33 million
|
| Type: | Negotiated
|
| Underwriters: | Roosevelt & Cross Inc. (lead); Ramirez & Co. Inc.; and Wachovia Bank (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | March 11
|
| Settlement date: | April 1
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 2% | 1.37%
|
| 2011 | Serial | 2% | 2.05%
|
| 2012 | Serial | 2.25% | 2.45%
|
| 2013 | Serial | 3% | 2.95%
|
| 2014 | Serial | 3.25% | 3.44%
|
| 2014 | Serial | 3.75% | 3.44%
|
| 2015 | Serial | 4% | 3.70%
|
| 2016 | Serial | 4% | 3.95%
|
| 2016 | Serial | 5% | 3.95%
|
| 2017 | Serial | 4% | 4.14%
|
| 2017 | Serial | 5% | 4.14%
|
| 2018 | Serial | 4.125% | 4.30%
|
| 2018 | Serial | 5% | 4.30%
|
| 2019 | Serial | 4.25% | 4.52%
|
| 2019 | Serial | 4.5% | 4.52%
|
| 2024 | Term | 5% | 5.18%
|
| 2029 | Term | 5.625% | 5.60%
|
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