New Issue: Dasny prices $1.17 billion of state personal income tax bonds

By Sheri Kasprzak

New York, June 11 – The Dormitory Authority of the State of New York sold $1,171,400,000 of series 2015 state personal income tax revenue bonds, according to a pricing sheet. The deal was downsized from $1,178,090,000.

The deal included $239,175,000 of series 2015B Group A tax-exempt bonds, $391,325,000 of series 2015B Group B bonds, $413.15 million of series 2015B Group C bonds, $29.92 million of series 2015C bonds and $97.83 million of series 2015D taxable bonds.

The 2015B Group A bonds are due 2017 to 2025 with 5% coupons and 0.62% to 2.61% yields. The 2015B Group B bonds are due 2026 to 2035 with 5% coupons and yields from 2.76% to 3.46%. The 2015B Group C bonds are due 2036 to 2045 with 5% coupons with yields from 3.48% to 3.71%.

The full details of the series 2015C bonds were not immediately available Thursday, but the coupons reportedly range from 3% to 5%.

The 2015D bonds are due 2017 to 2025 with 0.93% to 3.32% coupons, all priced at par.

The bonds were sold competitively.

Proceeds will be used to finance capital projects and refund debt.

Issuer:	Dormitory Authority of the State of New York
Issue:	Series 2015 state personal income tax revenue bonds
Amount:	$1,171,400,000
Pricing date:	June 11
Settlement date:	June 19
$239,175,000 series 2015B Group A tax-exempt bonds
Amount	Maturity	Type	Coupon	Price	Yield
$21.78 million	2017	Serial	5%	107.202	0.62%
$22.86 million	2018	Serial	5%	110.344	1.04%
$24,015,000	2019	Serial	5%	113.012	1.34%
$25.22 million	2020	Serial	5%	115.193	1.60%
$26,475,000	2021	Serial	5%	116.663	1.88%
$27.57 million	2022	Serial	5%	117.65	2.14%
$28.95 million	2023	Serial	5%	118.927	2.29%
$30,385,000	2024	Serial	5%	119.604	2.47%
$31.92 million	2025	Serial	5%	120.279	2.61%
$391,325,000 series 2015B Group B bonds
Amount	Maturity	Type	Coupon	Price	Yield
$31.41 million	2026	Serial	5%	118.869	2.76%
$32.99 million	2027	Serial	5%	117.663	2.89%
$34,645,000	2028	Serial	5%	116.563	3.01%
$36,365,000	2029	Serial	5%	115.565	3.12%
$38.19 million	2030	Serial	5%	114.667	3.22%
$39,405,000	2031	Serial	5%	114.132	3.28%
$41.37 million	2032	Serial	5%	113.688	3.33%
$43,445,000	2033	Serial	5%	113.247	3.38%
$45.61 million	2034	Serial	5%	112.895	3.42%
$47,895,000	2035	Serial	5%	112.544	3.46%
$413.15 million series 2015B Group C bonds
Amount	Maturity	Type	Coupon	Price	Yield
$32.85 million	2036	Serial	5%	112.37	3.48%
$34.49 million	2037	Serial	5%	112.021	3.52%
$36,215,000	2038	Serial	5%	111.674	3.56%
$38.03 million	2039	Serial	5%	111.415	3.59%
$39.92 million	2040	Serial	5%	110.984	3.64%
$41.92 million	2041	Serial	5%	110.812	3.66%
$44.02 million	2042	Serial	5%	110.64	3.68%
$46,215,000	2043	Serial	5%	110.555	3.69%
$48,535,000	2044	Serial	5%	110.469	3.70%
$50,955,000	2045	Serial	5%	110.384	3.71%
$97.83 million series 2015D taxable bonds
Amount	Maturity	Type	Coupon	Price
$10,035,000	2017	Serial	0.93%	100
$10,135,000	2018	Serial	1.39%	100
$10,265,000	2019	Serial	1.79%	100
$10,455,000	2020	Serial	2.26%	100
$10.69 million	2021	Serial	2.46%	100
$10.95 million	2022	Serial	2.81%	100
$11.26 million	2023	Serial	3.07%	100
$11,605,000	2024	Serial	3.22%	100
$11,985,000	2025	Serial	3.32%	100

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