Published on 3/30/2015 in the Prospect News Municipals Daily.
New Issue: Dasny prices $109.04 million of Barnard College revenue bonds
By Sheri Kasprzak
New York, March 30 – The Dormitory Authority of the State of New York sold $109,035,000 of series 2015A revenue bonds for Barnard College, according to an official statement.
The bonds (A1) were sold through senior manager RBC Capital Markets LLC.
The bonds are due 2016 to 2037 with term bonds due in 2043 and 2046. The serial coupons range from 2% to 5% with 0.37% to 3.55% yields. The 2043 bonds have a 5% coupon priced at 116.482 to yield 3.1%, and the 2046 bonds have a 3.75% coupon priced at 98.906 to yield 3.81%.
Proceeds will be used to construct a multipurpose facility at the college and to refund it series 2004 and 2007A revenue bonds.
| Issuer: | Dormitory Authority of the State of New York/Barnard College
|
| Issue: | Series 2015A revenue bonds
|
| Amount: | $109,035,000
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC (lead), Ramirez & Co. Inc. and Roosevelt & Cross Inc. (co-managers)
|
| Rating: | Moody’s: A1
|
| Pricing date: | March 26
|
| Settlement date: | April 24
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $675,000 | 2016 | Serial | 2% | 101.927 | 0.37%
|
| $690,000 | 2017 | Serial | 2% | 102.815 | 0.70%
|
| $2.16 million | 2018 | Serial | 3% | 106.352 | 0.97%
|
| $3,325,000 | 2019 | Serial | 4% | 111.31 | 1.22%
|
| $3.46 million | 2020 | Serial | 5% | 117.671 | 1.45%
|
| $3,635,000 | 2021 | Serial | 5% | 119.621 | 1.65%
|
| $3,825,000 | 2022 | Serial | 5% | 120.952 | 1.87%
|
| $4 million | 2023 | Serial | 5% | 122.208 | 2.04%
|
| $4,205,000 | 2024 | Serial | 5% | 122.89 | 2.23%
|
| $4,415,000 | 2025 | Serial | 5% | 123.98 | 2.34%
|
| $4,635,000 | 2026 | Serial | 5% | 122.456 | 2.49%
|
| $3,415,000 | 2027 | Serial | 5% | 121.652 | 2.57%
|
| $3,585,000 | 2028 | Serial | 5% | 120.458 | 2.69%
|
| $3.76 million | 2029 | Serial | 5% | 119.768 | 2.76%
|
| $3,955,000 | 2030 | Serial | 5% | 119.082 | 2.83%
|
| $4,155,000 | 2031 | Serial | 4% | 106.01 | 3.30%
|
| $4.31 million | 2032 | Serial | 4% | 105.655 | 3.34%
|
| $4.49 million | 2033 | Serial | 5% | 117.437 | 3.00%
|
| $4.71 million | 2034 | Serial | 5% | 117.054 | 3.04%
|
| $4.95 million | 2035 | Serial | 5% | 116.768 | 3.07%
|
| $3.59 million | 2036 | Serial | 4% | 103.987 | 3.53%
|
| $3.73 million | 2037 | Serial | 4% | 103.814 | 3.55%
|
| $18,195,000 | 2043 | Term | 5% | 116.482 | 3.10%
|
| $11,165,000 | 2046 | Term | 3.75% | 98.906 | 3.81%
|
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