By Sheri Kasprzak
New York, Aug. 26 - The Dormitory Authority of the State of New York sold $224.395 million in series 2009A revenue bonds for the North Shore-Long Island Jewish Obligated Group Wednesday, according to a pricing sheet.
The bonds (Baa1/A-/A-) were sold through senior managers Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc.
The co-managers included J.P. Morgan Securities Inc., Merrill Lynch & Co. Inc., M.R. Beal & Co. Inc., RBC Capital Markets Corp., Rice Financial Products Co., Roosevelt & Cross Inc., TD Securities Inc. and Wachovia Bank NA.
The bonds are due 2013 to 2021 with term bonds due 2025, 2030, 2030, 2037 and 2037. Coupons range from 4% to 5.75%.
Proceeds will be used to construct a new patient tower at Long Island Jewish Medical Center, as well as make improvements at the North Shore University Hospital.
| Issuer: | Dormitory Authority of the State of New York/North Shore-Long Island Jewish Obligated Group
|
| Issue: | Series 2009A revenue bonds
|
| Amount: | $224.395 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc. (lead), J.P. Morgan Securities Inc., Merrill Lynch & Co. Inc., M.R. Beal & Co. Inc., RBC Capital Markets Corp., Rice Financial Products Co., Roosevelt & Cross Inc., TD Securities Inc. and Wachovia Bank NA (co-managers)
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: A-
|
| Pricing date: | Aug. 26
|
|
|
| Maturity | Type | Coupon
|
| 2013 | Serial | 4%
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 4%
|
| 2016 | Serial | 4%
|
| 2017 | Serial | 4.25%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2025 | Term | 5.25%
|
| 2030 | Term | 5.5%
|
| 2030 | Term | 5.25%
|
| 2037 | Term | 5.75%
|
| 2037 | Term | 5.5%
|
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