By Sheri Kasprzak
New York, March 18 - The State of New York priced $268.065 million in general obligation bonds, according to a final official statement.
The offering includes $256.75 million in series 2008A G.O. bonds and $11.315 million in series 2008B G.O. bonds (Aa3/AA/AA-). The bonds were sold March 13, the statement released Tuesday said.
The 2008A bonds were sold in a serial structure from 2009 to 2028 with a term bond due 2038. The serial bonds have coupons from 2.5% to 4.5% and yields ranging from 1.89% to 4.84%. The term bond has a 5% coupon and a 4.97% yield.
The 2008B bonds are due from 2009 to 2013 with coupons from 3% to 3.72%. The yields range from 3% to 3.72%. The 2008B bonds also include a term bond due 2018 with a 4.69% coupon and yield.
The bonds were sold on a competitive basis, but the underwriter could not be determined Tuesday.
Proceeds will be used for transportation improvements, clean air and water facilities, solid waste management, parks and recreation land acquisition and mass transit projects.
| Issuer: | State of New York
|
| Issue: | Series 2008A and 2008B general obligation bonds
|
| Amount: | $268.065 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa3
|
| S&P: AA
|
| Fitch: AA-
|
| Pricing date: | March 13
|
|
|
| Series 2008A
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 2.5% | 1.89%
|
| 2010 | Serial | 4% | 2.25%
|
| 2011 | Serial | 3% | 2.54%
|
| 2012 | Serial | 3% | 2.80%
|
| 2013 | Serial | 4% | 3.00%
|
| 2014 | Serial | 3.5% | 3.16%
|
| 2015 | Serial | 4% | 3.36%
|
| 2016 | Serial | 4% | 3.54%
|
| 2017 | Serial | 4% | 3.71%
|
| 2018 | Serial | 4% | 3.90%
|
| 2019 | Serial | 4% | 4.02%
|
| 2020 | Serial | 4% | 4.11%
|
| 2021 | Serial | 4.125% | 4.28%
|
| 2022 | Serial | 4.25% | 4.39%
|
| 2023 | Serial | 4.375% | 4.52%
|
| 2024 | Serial | 4.5% | 4.59%
|
| 2025 | Serial | 4.5% | 4.66%
|
| 2026 | Serial | 4.5% | 4.76%
|
| 2027 | Serial | 4.5% | 4.82%
|
| 2028 | Serial | 4.5% | 4.84%
|
| 2038 | Term | 5% | 4.97%
|
|
|
| Series 2008B
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3% | 3.00%
|
| 2010 | Serial | 3% | 3.00%
|
| 2011 | Serial | 3.07% | 3.07%
|
| 2012 | Serial | 3.42% | 3.42%
|
| 2013 | Serial | 3.72% | 3.72%
|
| 2018 | Term | 4.69% | 4.69%
|
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