Published on 9/16/2009 in the Prospect News Municipals Daily.
New Issue: Dasny sells $555.47 million in revenue bonds with 1.5%-5% coupons
By Sheri Kasprzak
New York, Sept. 16 - The Dormitory Authority of the State of New York priced $555.465 million in series 2009 State of New York consolidated service contract refunding revenue bonds on Wednesday, according to a pricing sheet.
The sale included series 2009A bonds and a series 2009B term bond. The series 2009A bonds are due 2010 to 2025 with coupons from 1.5% to 5%. The 2009B bond is due 2010 with a 1.5% coupon.
The bonds (/AA-/A+) were sold on a negotiated basis with Citigroup Global Markets Inc., Ramirez & Co. Inc. and Merrill Lynch & Co. Inc. as the senior managers. The co-managers were Barclays Capital Inc., BB&T Capital Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities Inc., Janney Montgomery Scott LLC, Loop Capital Markets LLC, Prager, Sealy & Co. LLC and Stone & Youngberg.
Proceeds will be used to refund existing debt from the New York Housing Finance Agency.
| Issuer: | Dormitory Authority of the State of New York
|
| Issue: | Series 2009 State of New York consolidated service contract refunding revenue bonds
|
| Amount: | $555.465 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc., Ramirez & Co. Inc. and Merrill Lynch & Co. Inc. (lead); Barclays Capital Inc., BB&T Capital Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities Inc., Janney Montgomery Scott LLC, Loop Capital Markets LLC, Prager, Sealy & Co. LLC and Stone & Youngberg (co-managers)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: A+
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 24
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon
|
| 2010 | Serial | 1.5%
|
| 2011 | Serial | 2%
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 2.5%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 3%
|
| 2013 | Serial | 4%
|
| 2014 | Serial | 3%
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 4%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 4%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 3%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 3.5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 3.75%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 4%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 4%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 4%
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon
|
| 2010 | Term | 1.5%
|
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