By Sheri Kasprzak
New York, May 7 - The Erie County Fiscal Stability Authority of the State of New York priced $157.995 million in series 2010A sales tax and state aid secured bonds on Thursday, according to an official statement.
The bonds (Aa1//AA) were sold through Roosevelt & Cross Inc. with Goldman Sachs & Co. and M&T Securities Inc. as co-managers.
The bonds are due 2011 to 2023 with coupons from 2% to 5% and yields from 0.5% to 3.53%.
Proceeds will be used to refund in full the authority's bond anticipation notes, which are due May 19, 2010.
The authority, based in Buffalo, N.Y., operates to restore the county's fiscal health by providing short-term budgetary relief.
| Issuer: | Erie County Fiscal Stability Authority of the State of New York
|
| Issue: | Series 2010A sales tax and state aid secured bonds
|
| Amount: | $157.995 million
|
| Type: | Negotiated
|
| Underwriters: | Roosevelt & Cross Inc. (lead); Goldman Sachs & Co. and M&T Securities Inc. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Fitch: AA
|
| Pricing date: | May 6
|
| Settlement date: | May 18
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2011 | Serial | 2% | 0.50%
|
| 2012 | Serial | 3.25% | 0.90%
|
| 2012 | Serial | 4% | 0.90%
|
| 2013 | Serial | 2.75% | 1.31%
|
| 2013 | Serial | 4% | 1.31%
|
| 2014 | Serial | 2.375% | 1.67%
|
| 2014 | Serial | 4% | 1.67%
|
| 2014 | Serial | 5% | 1.67%
|
| 2015 | Serial | 2% | 2.02%
|
| 2015 | Serial | 2.25% | 2.02%
|
| 2015 | Serial | 3% | 2.02%
|
| 2015 | Serial | 4% | 2.02%
|
| 2016 | Serial | 3.25% | 2.43%
|
| 2016 | Serial | 4% | 2.43%
|
| 2016 | Serial | 4.75% | 2.43%
|
| 2017 | Serial | 3.5% | 2.72%
|
| 2017 | Serial | 4% | 2.72%
|
| 2017 | Serial | 5% | 2.72%
|
| 2018 | Serial | 3.25% | 2.91%
|
| 2018 | Serial | 4.125% | 2.91%
|
| 2018 | Serial | 5% | 2.91%
|
| 2019 | Serial | 3.5% | 3.09%
|
| 2019 | Serial | 4.25% | 3.09%
|
| 2019 | Serial | 5% | 3.09%
|
| 2020 | Serial | 3.25% | 3.24%
|
| 2020 | Serial | 4.25% | 3.24%
|
| 2020 | Serial | 5% | 3.24%
|
| 2021 | Serial | 3.375% | 3.375%
|
| 2021 | Serial | 4.5% | 3.375%
|
| 2021 | Serial | 5% | 3.375%
|
| 2022 | Serial | 4% | 3.45%
|
| 2022 | Serial | 5% | 3.45%
|
| 2023 | Serial | 3.53% | 3.53%
|
| 2023 | Serial | 5% | 3.53%
|
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