Published on 12/4/2013 in the Prospect News Municipals Daily.
New Issue: Dasny brings to market $369.7 million employer assessment revenue debt
By Sheri Kasprzak
New York, Dec. 4 - The Dormitory Authority of the State of New York sold $369.7 million of series 2013A taxable employer assessment revenue bonds, said a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold through Siebert Brandford Shank & Co. LLC and Goldman Sachs & Co.
The bonds are due 2015 to 2027 with a term bond due in 2034. The serial coupons range from 0.493% to 4.292%, all priced at par. The 2034 bonds have a 4.802% coupon priced at par.
Proceeds will be used to acquire associated life premiums associated with unmet obligations for self-insured state employees.
| Issuer: | Dormitory Authority of the State of New York
|
| Issue: | Series 2013A taxable employer assessment revenue bonds
|
| Amount: | $369.7 million
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. LLC and Goldman Sachs & Co. (lead), Barclays, Jefferies & Co., M.R. Beal & Co., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, Rice Financial Products Co. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 19
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $13.99 million | 2015 | Serial | 0.493% | 100
|
| $14.06 million | 2016 | Serial | 0.874% | 100
|
| $14.18 million | 2017 | Serial | 1.55% | 100
|
| $14.39 million | 2018 | Serial | 2.05% | 100
|
| $14,675,000 | 2019 | Serial | 2.596% | 100
|
| $15.05 million | 2020 | Serial | 2.946% | 100
|
| $15.48 million | 2021 | Serial | 3.292% | 100
|
| $16.15 million | 2022 | Serial | 3.542% | 100
|
| $16.54 million | 2023 | Serial | 3.742% | 100
|
| $17,145,000 | 2024 | Serial | 3.892% | 100
|
| $17,805,000 | 2025 | Serial | 4.042% | 100
|
| $18,515,000 | 2026 | Serial | 4.192% | 100
|
| $19.28 million | 2027 | Serial | 4.292% | 100
|
| $162.44 million | 2034 | Term | 4.802% | 100
|
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