Published on 7/22/2015 in the Prospect News Municipals Daily.
New Issue: Dasny brings to market $1.52 billion of state sales tax revenue bonds
By Sheri Kasprzak
New York, July 22 – The Dormitory Authority of the State of New York sold $1,522,050,000 of series 2015A state sales tax revenue bonds, according to a pricing sheet. The offering was upsized from $1,167,875,000.
The bonds (/AAA/AA+) were sold through Morgan Stanley & Co. LC, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC.
The bonds are due 2016 to 2027 with 2% to 5% coupons.
Proceeds will be used to refund certain outstanding state-supported debt.
Issuer: | Dormitory Authority of the State of New York
|
Issue: | Series 2015A state sales tax revenue bonds
|
Amount: | $1,522,050,000
|
Type: | Negotiated
|
Underwriters: | Morgan Stanley & Co. LLC, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC (lead)
|
Ratings: | Standard & Poor’s: AAA
|
| Fitch: AA+
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Pricing date: | July 22
|
Settlement date: | July 30
|
|
Amount | Maturity | Type | Coupon | Price
|
$146.83 million 2016 | Serial | 2% | 101.143
|
$1.18 million | 2017 | Serial | 2% | 102.309
|
$23,105,000 | 2017 | Serial | 3% | 103.925
|
$229.16 million | 2017 | Serial | 5% | 107.155
|
$2.71 million | 2018 | Serial | 2% | 102.926
|
$3,575,000 | 2018 | Serial | 4% | 108.105
|
$249.63 million 2018 | Serial | 5% | 110.694
|
$2,595,000 | 2019 | Serial | 2% | 103.189
|
$190,000 | 2019 | Serial | 3% | 106.733
|
$216.15 million 2019 | Serial | 5% | 113.821
|
$38,895,000 | 2020 | Serial | 5% | 116.506
|
$8,755,000 | 2021 | Serial | 2% | 102.089
|
$2,165,000 | 2021 | Serial | 4% | 112.802
|
$239.22 million 2021 | Serial | 5% | 116.578
|
$2.13 million | 2022 | Serial | 4% | 113.146
|
$62.54 million | 2022 | Serial | 5% | 119.347
|
$1.28 million | 2023 | Serial | 3% | 106.309
|
$66,605,000 | 2023 | Serial | 5% | 120.332
|
$1,415,000 | 2024 | Serial | 2.125% | 100.195
|
$69,835,000 | 2024 | Serial | 5% | 121.622
|
$3,035,000 | 2025 | Serial | 2.25% | 99.057
|
$72.43 million | 2025 | Serial | 5% | 122.609
|
$51.65 million | 2026 | Serial | 5% | 121.266
|
$26.97 million | 2027 | Serial | 5% | 120.411
|
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