By Sheri Kasprzak
New York, July 17 - The New York City Municipal Water Finance Authority priced $334.075 million in series 2009AA water and sewer system second general resolution revenue bonds, according to an official statement.
The bonds (Aa3/AA+/AA) were sold Thursday on a negotiated basis with Depfa First Albany Securities as the lead manager. The co-managers were Merrill Lynch; M.R. Beal & Co.; Siebert Brandford Shank & Co.; Banc of America Securities LLC; Citigroup Global Markets; Goldman, Sachs & Co.; JPMorgan; Lehman Brothers; Loop Capital Markets; Morgan Stanley; Raymond James; Wachovia Bank; Piper Jaffray; Prager, Sealy & Co.; RBC Capital Markets; and Roosevelt & Cross.
The bonds are due 2013 to 2022 with coupons from 3.25% to 5% and yields from 3% to 4.28%.City
Proceeds will be used to refund the authority's series 2008CC bonds, which are due in 2022.
| Issuer: | New York City Municipal Water Finance Authority
|
| Issue: | Series 2009AA water and sewer system second general resolution revenue bonds
|
| Amount: | $334.075 million
|
| Type: | Negotiated
|
| Underwriters: | Depfa First Albany Securities (lead); Merrill Lynch; M.R. Beal & Co.; Siebert Brandford Shank & Co.; Banc of America Securities LLC; Citigroup Global Markets; Goldman, Sachs & Co.; JPMorgan; Lehman Brothers; Loop Capital Markets; Morgan Stanley; Raymond James; Wachovia Bank; Piper Jaffray; Prager, Sealy & Co.; RBC Capital Markets; and Roosevelt & Cross (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA+
|
| Fitch: AA
|
| Pricing date: | July 17
|
| Settlement date: | July 23
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2013 | Serial | 3.25% | 3.00%
|
| 2014 | Serial | 3.5% | 3.14%
|
| 2016 | Serial | 4% | 3.51%
|
| 2016 | Serial | 5% | 3.51%
|
| 2017 | Serial | 4% | 3.64%
|
| 2017 | Serial | 5% | 3.64%
|
| 2018 | Serial | 4% | 3.76%
|
| 2018 | Serial | 5% | 3.76%
|
| 2019 | Serial | 5% | 3.97%
|
| 2020 | Serial | 4% | 4.11%
|
| 2021 | Serial | 4% | 4.22%
|
| 2021 | Serial | 5% | 4.22%
|
| 2022 | Serial | 4.125% | 4.28%
|
| 2022 | Serial | 5% | 4.28%
|
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