By Sheri Kasprzak
New York, May 26 - The Dormitory Authority of the State of New York priced $800 million in series 2010D state personal income tax revenue Build America Bonds on Wednesday, according to a pricing sheet.
The bonds (/AAA/AA) were sold competitively. Bank of America Merrill Lynch won the bid.
The bonds are due 2022 to 2024 with term bonds due 2030 and 2040. The serial coupons range from 4.75% to 5%. The 2030 bonds have a 5.5% coupon, priced at par. The 2040 bonds have a 5.6% coupon, priced at par.
Proceeds will be used to finance capital projects at the State University of New York.
The Albany, N.Y.-based authority provides financing to qualified nonprofit entities in the state.
| Issuer: | Dormitory Authority of the State of New York
|
| Issue: | Series 2010D state personal income tax revenue Build America Bonds
|
| Amount: | $800 million
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch (winner)
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AA
|
| Pricing date: | May 26
|
| Settlement date: | June 3
|
|
|
| Maturity | Type | Coupon | Price
|
| 2022 | Serial | 4.75% | 100
|
| 2023 | Serial | 4.9% | 100
|
| 2024 | Serial | 5% | 99.5
|
| 2030 | Term | 5.5% | 100
|
| 2040 | Term | 5.6% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
