By Sheri Kasprzak
New York, Oct. 13 – The Dormitory Authority of the State of New York priced $952,245,000 of series 2015B state sales tax revenue bonds, according to a pricing sheet.
The deal included series B group A bonds, series B group B bonds and series B group C bonds. The full breakdown of the tranches was not immediately available.
The series B group A bonds are due 2017 to 2025 with 5% coupons and 0.42% to 2.04% yields. The series B group B bonds are due 2026 to 2035 with 5% coupons and yields from 2.24% to 2.98%. The series B group C bonds are due 2036 to 2042 with a term bond due in 2045. The serial bonds have 5% coupons with 3.06% to 3.24% yields. The 2045 bonds have a 5% coupon priced at 114.706 to yield 3.25%.
The bonds (/AAA/AA+) were sold competitively.
Proceeds will be used to finance or reimburse a portion of the costs of state programs and projects.
| Issuer: | Dormitory Authority of the State of New York
|
| Issue: | Series 2015B state sales tax revenue bonds
|
| Amount: | $951,245,000
|
| Type: | Competitive
|
| Ratings: | Standard & Poor’s: AAA
|
| Fitch: AA+
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 22
|
|
|
| Series B Group A bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| 2017 | Serial | 5% | 106.373 | 0.42%
|
| 2018 | Serial | 5% | 110.254 | 0.68%
|
| 2019 | Serial | 5% | 113.614 | 0.92%
|
| 2020 | Serial | 5% | 116.554 | 1.13%
|
| 2021 | Serial | 5% | 118.879 | 1.36%
|
| 2022 | Serial | 5% | 120.729 | 1.58%
|
| 2023 | Serial | 5% | 122.145 | 1.79%
|
| 2024 | Serial | 5% | 123.691 | 1.93%
|
| 2025 | Serial | 5% | 125.193 | 2.04%
|
|
|
| Series B Group B bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| 2026 | Serial | 5% | 124.376 | 2.24%
|
| 2027 | Serial | 5% | 123.177 | 2.36%
|
| 2028 | Serial | 5% | 121.993 | 2.48%
|
| 2029 | Serial | 5% | 120.822 | 2.60%
|
| 2030 | Serial | 5% | 119.856 | 2.70%
|
| 2031 | Serial | 5% | 119.185 | 2.77%
|
| 2032 | Serial | 5% | 118.614 | 2.83%
|
| 2033 | Serial | 5% | 118.141 | 2.88%
|
| 2034 | Serial | 5% | 117.669 | 2.93%
|
| 2035 | Serial | 5% | 117.2 | 2.98%
|
|
|
| Series B Group C bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| 2036 | Serial | 5% | 116.455 | 3.06%
|
| 2037 | Serial | 5% | 116.084 | 3.10%
|
| 2038 | Serial | 5% | 115.714 | 3.14%
|
| 2039 | Serial | 5% | 115.438 | 3.17%
|
| 2040 | Serial | 5% | 115.163 | 3.20%
|
| 2041 | Serial | 5% | 114.98 | 3.22%
|
| 2042 | Serial | 5% | 114.797 | 3.24%
|
| 2045 | Term | 5% | 114.706 | 3.25%
|
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