By Sheri Kasprzak
New York, Oct. 4 - The Dormitory Authority of the State of New York priced $514.365 million of series 2011 state personal income tax revenue bonds, according to a pricing sheet.
The bonds were sold competitively with Wells Fargo Securities LLC as the winning bidder.
The offering was comprised of $466.035 million of series 2011E tax-exempt bonds and $48.33 million of series 2011F taxable bonds.
The 2011E bonds are due 2012 to 2031 with term bond due in 2033, 2034, 2038, 2040 and 2041. The serial coupons range from 4% to 5%. The 2033 bonds have a 5% coupon priced at 116.713, and the 2034 bonds have a 4.125% coupon priced at 98.496. The 2038 bonds have a 5% coupon priced at 118.197. The 2040 bonds have a 4.5% coupon priced at 104.983, and the 2041 bonds have a 4.25% coupon priced at 98.992.
The 2011F bonds are due 2012 to 2021 with 0.5% to 3.05% coupons all priced at par.
Proceeds will be used to finance grants to libraries, state and voluntary agency facilities; construct a state court officers' training academy; implement a state longitudinal data system; and fund economic development grants under various programs.
| Issuer: | Dormitory Authority of the State of New York
|
| Issue: | Series 2011 state personal income tax revenue bonds
|
| Amount: | $514.365 million
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Securities LLC (winner)
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 13
|
|
|
| $466.035 million series 2011E tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $18.405 million | 2012 | Serial | 5% | 103.986
|
| $19.345 million | 2013 | Serial | 5% | 108.226
|
| $20.34 million | 2014 | Serial | 5% | 111.914
|
| $21.38 million | 2015 | Serial | 5% | 114.863
|
| $22.49 million | 2016 | Serial | 5% | 116.682
|
| $22.58 million | 2017 | Serial | 5% | 117.901
|
| $23.74 million | 2018 | Serial | 5% | 119.295
|
| $24.955 million | 2019 | Serial | 5% | 119.579
|
| $26.25 million | 2020 | Serial | 5% | 119.625
|
| $27.59 million | 2021 | Serial | 5% | 120.232
|
| $10.495 million | 2022 | Serial | 4% | 111.148
|
| $10.98 million | 2023 | Serial | 5% | 120.133
|
| $11.545 million | 2024 | Serial | 5% | 119.642
|
| $12.135 million | 2025 | Serial | 5% | 119.375
|
| $12.755 million | 2026 | Serial | 5% | 119.035
|
| $11.535 million | 2027 | Serial | 5% | 118.653
|
| $12.125 million | 2028 | Serial | 5% | 118.116
|
| $12.68 million | 2029 | Serial | 4% | 99.503
|
| $13.205 million | 2030 | Serial | 4% | 99.002
|
| $13.725 million | 2031 | Serial | 4% | 98.499
|
| $19.535 million | 2033 | Term | 5% | 116.713
|
| $10.48 million | 2034 | Term | 4.125% | 98.496
|
| $46.8 million | 2038 | Term | 5% | 118.197
|
| $26.71 million | 2040 | Term | 4.5% | 104.983
|
| $14.27 million | 2041 | Term | 4.25% | 98.992
|
|
|
| $48.33 million series 2011F taxable bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 0.5% | 100
|
| 2013 | Serial | 0.7% | 100
|
| 2014 | Serial | 1% | 100
|
| 2015 | Serial | 1.35% | 100
|
| 2016 | Serial | 1.75% | 100
|
| 2017 | Serial | 2.1% | 100
|
| 2018 | Serial | 2.45% | 100
|
| 2019 | Serial | 2.7% | 100
|
| 2020 | Serial | 2.9% | 100
|
| 2021 | Serial | 3.05% | 100
|
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