By Sheri Kasprzak
New York, Sept. 21 - The Dormitory Authority of the State of New York priced $90 million of series 2011A revenue bonds for Yeshiva University, said a pricing sheet.
The bonds (A2/AA-/) were sold through Morgan Stanley & Co. LLC and Barclays Capital Inc. with Goldman Sachs & Co., J.P. Morgan Securities LLC and Ramirez & Co. Inc. as the co-managers.
The bonds are due 2014 to 2022 with term bonds due in 2025, 2026, 2031 and 2040. The serial coupons range from 4% to 5%. The 2025 bonds have a 4% coupon and priced at 98.303, and the 2026 bonds have a 4% coupon and priced at 97.341. The 2031 bonds have a 5% coupon and priced at 102.223, and the 2040 bonds have a 5% coupon and priced at 100.784.
Proceeds will be used to construct, renovate, repair and improve existing facilities and campuses in the Bronx and Manhattan and to refund existing debt.
| Issuer: | Dormitory Authority of the State of New York/Yeshiva University
|
| Issue: | Series 2011A revenue bonds
|
| Amount: | $90 million
|
| Type: | Negotiated
|
| Underwriters; | Morgan Stanley & Co. LLC and Barclays Capital Inc. (lead), Goldman Sachs & Co., J.P. Morgan Securities LLC and Ramirez & Co. Inc. (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: AA-
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 28
|
|
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 4% | 108.313
|
| 2015 | Serial | 4% | 109.801
|
| 2016 | Serial | 4% | 110.042
|
| 2017 | Serial | 4% | 109.908
|
| 2017 | Serial | 5% | 115.571
|
| 2018 | Serial | 5% | 115.589
|
| 2019 | Serial | 4% | 107.88
|
| 2019 | Serial | 5% | 115.046
|
| 2020 | Serial | 5% | 113.761
|
| 2021 | Serial | 5% | 113.02
|
| 2022 | Serial | 5% | 111.307
|
| 2025 | Term | 4% | 98.303
|
| 2026 | Term | 4% | 97.341
|
| 2031 | Term | 5% | 102.223
|
| 2040 | Term | 5% | 100.784
|
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