By Sheri Kasprzak
New York, Sept. 22 - The New Mexico Finance Authority brought to market $427.645 million in series 2010B senior lien refunding revenue bonds, said a term sheet.
The bonds (Aa1/AA+/) were sold on a negotiated basis with Morgan Stanley & Co. Inc. as the lead manager. The co-managers were Bank of America Merrill Lynch, Ramirez & Co. Inc., Piper Jaffray & Co. and RBC Capital Markets Corp.
The bonds are due 2012 to 2024 with coupons from 3% to 5%.
Proceeds will be used to refund the authority's series 2002A, 2002C, 2002D and 2004A bonds.
Based in Santa Fe, the authority provides funding for a variety of infrastructure projects.
Issuer: | New Mexico Finance Authority
|
Issue: | Series 2010B senior lien refunding revenue bonds
|
Amount: | $427.645 million
|
Type: | Negotiated
|
Underwriters: | Morgan Stanley & Co. Inc. (lead), Bank of America Merrill Lynch, Ramirez & Co. Inc., Piper Jaffray & Co. and RBC Capital Markets Corp. (co-managers)
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
Pricing date: | Sept. 22
|
Settlement date: | Oct. 5
|
|
Maturity | Type | Coupon | Price
|
2012 | Serial | 3% | 104.212
|
2014 | Serial | 3% | 107.122
|
2014 | Serial | 4% | 110.738
|
2016 | Serial | 3% | 106.969
|
2017 | Serial | 5% | 118.775
|
2018 | Serial | 5% | 119.404
|
2019 | Serial | 4% | 111.985
|
2019 | Serial | 5% | 119.769
|
2020 | Serial | 5% | 120.065
|
2021 | Serial | 5% | 120.514
|
2023 | Serial | 5% | 116.987
|
2024 | Serial | 5% | 116.254
|
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