By Sheri Kasprzak
New York, April 12 - The Dormitory Authority of the State of New York came to market Tuesday with $150 million of series 2011 revenue bonds (A2/A), said a pricing sheet.
The sale included $100 million of series 2011A bonds and $50 million of series 2011B bonds.
The 2011A bonds are due 2015 to 2031 with a term bond due in 2036. The serial coupons range from 3% to 5.25%. The 2036 bonds have a 5.5% coupon.
The 2011B bonds are due July 1, 2041 with a 5% coupon.
The full pricing details were unavailable on Tuesday evening.
J.P. Morgan Securities LLC was the senior manager. The co-managers were Merrill Lynch, Fidelity Capital Markets LLC, M.R. Beal & Co. Inc., Piper Jaffray & Co. and RBC Capital Markets LLC.
Proceeds will be used to construct a new law school building and a 430-bed residence hall, as well as to renovate a book storage area in the existing Quinn Library, which will be connected to the law school.
Issuer: | Dormitory Authority of the State of New York/Fordham University
|
Issue: | Series 2011 revenue bonds
|
Amount: | $150 million
|
Type: | Negotiated
|
Underwriters: | J.P. Morgan Securities LLC (lead), Merrill Lynch, Fidelity Capital Markets LLC, M.R. Beal & Co. Inc., Piper Jaffray & Co. and RBC Capital Markets LLC (co-managers)
|
Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
Pricing date: | April 12
|
Settlement date: | April 28
|
|
$100 million series 2011A
|
Maturity | Type | Coupon
|
2015 | Serial | 3%
|
2016 | Serial | 4%
|
2017 | Serial | 5%
|
2018 | Serial | 4%
|
2019 | Serial | 5%
|
2020 | Serial | 5%
|
2021 | Serial | 5%
|
2022 | Serial | 5%
|
2023 | Serial | 5%
|
2024 | Serial | 4.625%
|
2025 | Serial | 5.25%
|
2026 | Serial | 5.25%
|
2027 | Serial | 5%
|
2028 | Serial | 5%
|
2029 | Serial | 5.125%
|
2030 | Serial | 5.2%
|
2031 | Serial | 5.25%
|
2036 | Term | 5.5%
|
|
$50 million series 2011B
|
Maturity | Type | Coupon
|
July 1, 2041 | Term | 5%
|
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