Published on 10/3/2012 in the Prospect News Municipals Daily.
New Issue: Dasny prices $60.77 million of revenue bonds for Long Island University
By Sheri Kasprzak
New York, Oct. 3 - The Dormitory Authority of the State of New York priced $60,765,000 of series 2012 revenue bonds for Long Island University, according to a pricing sheet.
The bonds (Baa3) were sold through Piper Jaffray & Co. Inc.
The bonds are due 2013 to 2027 with a term bond due in 2032. The serial coupons range from 2.75% to 5%. The 2032 bonds have a 3.75% coupon priced at 96.591.
Proceeds will be used to current refund all or a portion of the authority's series 1999 and 2003A-B bonds sold for the university.
| Issuer: | Dormitory Authority of the State of New York/Long Island University
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $60,765,000
|
| Type: | Negotiated
|
| Underwriter | Piper Jaffray & Co. Inc.
|
| Ratings: | Moody's: Baa3
|
| Pricing date: | Oct. 3
|
| Settlement date: | Oct. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.95 million | 2013 | Serial | 3% | 101.556
|
| $3,065,000 | 2014 | Serial | 3% | 102.758
|
| $3.17 million | 2015 | Serial | 4% | 106.535
|
| $3,325,000 | 2016 | Serial | 4% | 107.957
|
| $3.48 million | 2017 | Serial | 4% | 108.657
|
| $3,665,000 | 2018 | Serial | 5% | 114.453
|
| $3.84 million | 2019 | Serial | 3% | 102.12
|
| $3,975,000 | 2020 | Serial | 2.75% | 98.74
|
| $4,115,000 | 2021 | Serial | 3% | 98.844
|
| $4,285,000 | 2022 | Serial | 3% | 97.487
|
| $4,445,000 | 2023 | Serial | 3.25% | 97.752
|
| $3.07 million | 2024 | Serial | 3.375% | 97.602
|
| $3.2 million | 2025 | Serial | 5% | 111.365
|
| $3,355,000 | 2026 | Serial | 5% | 110.752
|
| $3.52 million | 2027 | Serial | 5% | 110.23
|
| $7,305,000 | 2032 | Term | 3.75% | 96.591
|
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