Published on 12/19/2012 in the Prospect News Municipals Daily.
New Issue: Metropolitan Opera, N.Y., sells $100 million of taxable bonds
By Sheri Kasprzak
New York, Dec. 19 - The Metropolitan Opera of New York sold $100 million of series 2012 taxable bonds, according to a pricing sheet.
The bonds (A3/A/) were sold through Bank of America Merrill Lynch and Morgan Stanley & Co. LLC.
The bonds are due 2014 to 2022 with term bonds due in 2027, 2032 and 2042. The serial coupons range from 1% to 3.128%, all priced at par. The 2027 bonds have a 3.728% coupon, the 2032 bonds have a 4.349% coupon and the 2042 bonds have a 4.524% coupon, all priced at par.
Proceeds will be used to repay debt held by the opera.
Issuer: | Metropolitan Opera
|
Issue: | Series 2012 taxable bonds
|
Amount: | $100 million
|
Type: | Negotiated
|
Underwriters: | Bank of America Merrill Lynch and Morgan Stanley & Co. LLC
|
Ratings: | Moody's A3
|
Standard & Poor's: A
|
Pricing date: | Dec. 13
|
Settlement date: | Dec. 19
|
|
Amount | Maturity | Type | Coupon | Price
|
$2,105,000 | 2014 | Serial | 1% | 100
|
$2.13 million | 2015 | Serial | 1.245% | 100
|
$2.16 million | 2016 | Serial | 1.538% | 100
|
$2,195,000 | 2017 | Serial | 1.788% | 100
|
$2,235,000 | 2018 | Serial | 2.143% | 100
|
$2,285,000 | 2019 | Serial | 2.393% | 100
|
$2,345,000 | 2020 | Serial | 2.728% | 100
|
$2,415,000 | 2021 | Serial | 2.928% | 100
|
$2,485,000 | 2022 | Serial | 3.128% | 100
|
$8.5 million | 2027 | Term | 3.728% | 100
|
$22.67 million | 2032 | Term | 4.349% | 100
|
$48,475,000 | 2042 | Term | 4.524% | 100
|
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