Published on 9/18/2008 in the Prospect News Municipals Daily.
New Issue: New York City prices $1.04 billion G.O. bonds with 1.7%-5.08% yields
By Sheri Kasprzak
New York, Sept. 18 - The city of New York priced $1,039,975,000 in series 2009 general obligation bonds on Sept. 12, according to an official statement.
The sale included $790 million in series 2009B bonds, $237.765 million in series 2009C bonds and $12.21 million in series 2009D bonds.
The 2009B bonds are due 2010 to 2026 with coupons from 3% to 5.25% and yields from 2.25% to 5.08%.
The 2009C bonds are due 2010 to 2019 with coupons from 5% to 5.25% and yields from 2.25% to 4.19%.
The 2009D bonds are due 2009 to 2013 with coupons from 3% to 4% and yields from 1.7% to 3.17%.
The bonds were sold on a negotiated basis with Citigroup Global Markets as the senior manager. The co-managers are J.P. Morgan Securities Inc., Merrill Lynch, Morgan Stanley & Co. Inc., Banc of America Securities LLC, M.R. Beal & Co., Depfa First Albany, Goldman, Sachs & Co., Lehman Brothers Inc., Loop Capital Markets, Prager, Sealy & Co., Ramirez & Co., RBC Capital Markets, Siebert Brandford Shank & Co., Wachovia Bank, Cabrera Capital Markets, Commerce Capital Markets, Jackson Securities, Janney Montgomery Scott, Raymond James & Associates, Roosevelt & Cross and Southwest Securities.
Proceeds will be used for capital purposes.
| Issuer: | City of New York
|
| Issue: | Series 2009 general obligation bonds
|
| Amount: | $1,039,975,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets (lead), J.P. Morgan Securities Inc., Merrill Lynch, Morgan Stanley & Co. Inc., Banc of America Securities LLC, M.R. Beal & Co., Depfa First Albany, Goldman, Sachs & Co., Lehman Brothers, Loop Capital Markets, Prager, Sealy & Co., Ramirez & Co., RBC Capital Markets, Siebert Brandford Shank & Co., Wachovia Bank, Cabrera Capital Markets, Commerce Capital Markets, Jackson Securities, Janney Montgomery Scott, Raymond James & Associates, Roosevelt & Cross and Southwest Securities
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 30
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3% | 2.25%
|
| 2010 | Serial | 4% | 2.25%
|
| 2011 | Serial | 3% | 2.64%
|
| 2011 | Serial | 4% | 2.64%
|
| 2012 | Serial | 3% | 2.90%
|
| 2012 | Serial | 4% | 2.90%
|
| 2012 | Serial | 5% | 2.90%
|
| 2013 | Serial | 3% | 3.17%
|
| 2013 | Serial | 4% | 3.17%
|
| 2013 | Serial | 5% | 3.17%
|
| 2014 | Serial | 4% | 3.37%
|
| 2014 | Serial | 5% | 3.37%
|
| 2015 | Serial | 4% | 3.58%
|
| 2015 | Serial | 5% | 3.58%
|
| 2016 | Serial | 4% | 3.73%
|
| 2016 | Serial | 5.25% | 3.73%
|
| 2017 | Serial | 3.75% | 3.88%
|
| 2018 | Serial | 5.08% | 5.08%
|
| 2019 | Serial | 4% | 4.19%
|
| 2019 | Serial | 5% | 4.19%
|
| 2020 | Serial | 4% | 4.34%
|
| 2020 | Serial | 5.25% | 4.34%
|
| 2021 | Serial | 5.25% | 4.43%
|
| 2022 | Serial | 4.25% | 4.52%
|
| 2023 | Serial | 4.375% | 4.58%
|
| 2023 | Serial | 5.25% | 4.58%
|
| 2024 | Serial | 5.25% | 4.63%
|
| 2025 | Serial | 4.5% | 4.67%
|
| 2025 | Serial | 5.25% | 4.67%
|
| 2026 | Serial | 4.5% | 4.72%
|
| 2026 | Serial | 5.25% | 4.72%
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 5% | 2.25%
|
| 2011 | Serial | 5% | 2.64%
|
| 2012 | Serial | 5% | 2.90%
|
| 2013 | Serial | 5% | 3.17%
|
| 2014 | Serial | 5% | 3.37%
|
| 2015 | Serial | 5% | 3.58%
|
| 2016 | Serial | 5.25% | 3.73%
|
| 2017 | Serial | 5.25% | 3.88%
|
| 2018 | Serial | 5.25% | 4.03%
|
| 2019 | Serial | 5.25% | 4.19%
|
|
|
| Series 2009D
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3% | 1.70%
|
| 2010 | Serial | 3% | 2.25%
|
| 2011 | Serial | 4% | 2.64%
|
| 2012 | Serial | 4% | 2.90%
|
| 2013 | Serial | 4% | 3.17%
|
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