By Sheri Kasprzak
New York, March 22 - The New York Liberty Development Corp. sold $450.29 million of series 2012 liberty revenue refunding bonds for 7 World Trade Center, according to a pricing sheet.
The offering included $313.1 million of series 2012 class 1 bonds, $108 million of series 2012 class 2 bonds and $29.19 million of series 2012 class 3 bonds.
The class 1 bonds are due 2028 to 2032 with term bonds due in 2035 and 2040. The serial bonds have 5% coupons. The 2035 bonds have a 4% coupon priced at 97.763, and the 2040 bonds have a 5% coupon priced at 108.136.
The class 2 bonds are due Sept. 15, 2043 and have a 5% coupon priced at 103.97.
The class 3 bonds are due March 15, 2044 and have a 5% coupon priced at 101.169.
The bonds were sold through lead managers J.P. Morgan Securities LLC and Bank of America Merrill Lynch. The co-managers were M.R. Beal & Co. Inc., Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC.
Proceeds will be used to refund the corporation's bonds used to construct certain floors at 7 World Trade Center.
| Issuer: | New York Liberty Development Corp.
|
| Issue: | Series 2012 liberty revenue refunding bonds
|
| Amount: | $450.29 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Bank of America Merrill Lynch (lead); M.R. Beal & Co. Inc., Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Pricing date: | March 22
|
| Settlement date: | April 5
|
|
|
| $313.1 million series 2012 class 1 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $18,475,000 | 2028 | Serial | 5% | 111.083
|
| $19.41 million | 2029 | Serial | 5% | 110.644
|
| $20.39 million | 2030 | Serial | 5% | 110.206
|
| $21,425,000 | 2031 | Serial | 5% | 110.032
|
| $22.51 million | 2032 | Serial | 5% | 109.858
|
| $73.67 million | 2035 | Term | 4% | 97.763
|
| $137.22 million | 2040 | Term | 5% | 108.136
|
|
|
| $108 million series 2012 class 2 bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 15, 2043 | Term | 5% | 103.97
|
|
|
| $29.19 million series 2012 class 3 bonds
|
| Maturity | Type | Coupon | Price
|
| March 15, 2044 | Term | 5% | 101.169
|
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