By Sheri Kasprzak
New York, June 9 - The City of New York brought to market $800 million in series 2010H general obligation bonds (Aa2/AA/) on Wednesday, said a pricing sheet.
The offering included $780 million in series 2010H-1 Build America Bonds and $20 million in series 2010H-2 tax-exempt bonds.
The 2010H-1 bonds are due 2017, 2021 to 2023, 2027, 2035 and 2040. Coupons range from 4.106% to 6.246%, all priced at par. The 2010H-2 bonds are due 2012 to 2021 with coupons from 2% to 5%.
Morgan Stanley & Co. Inc. was the senior manager. The co-managers included Bank of America Merrill Lynch; Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co. Inc.; Fidelity Capital Markets Services Inc.; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wells Fargo Bank, NA; Cabrera Capital Markets LLC; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets Corp.; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities.
The proceeds will be used for capital purposes.
| Issuer: | City of New York
|
| Issue: | Series 2010H general obligation bonds
|
| Amount: | $800 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead); Bank of America Merrill Lynch; Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co. Inc.; Fidelity Capital Markets Services Inc.; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wells Fargo Bank, NA; Cabrera Capital Markets LLC; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets Corp.; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | June 9
|
| Settlement date: | June 16
|
|
|
| Series 2010H-1
|
| Maturity | Type | Coupon | Price
|
| 2017 | Term | 4.106% | 100
|
| 2021 | Term | 4.908% | 100
|
| 2022 | Term | 5.008% | 100
|
| 2023 | Term | 5.108% | 100
|
| 2027 | Term | 5.646% | 100
|
| 2035 | Term | 6.246% | 100
|
| 2040 | Term | 5.846% | 100
|
|
|
| Series 2010H-2
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 2% | 102.366
|
| 2012 | Serial | 4% | 106.245
|
| 2013 | Serial | 2% | 102.288
|
| 2013 | Serial | 5% | 110.98
|
| 2014 | Serial | 3% | 105.112
|
| 2014 | Serial | 5% | 112.743
|
| 2015 | Serial | 2% | 99.905
|
| 2015 | Serial | 5% | 113.991
|
| 2016 | Serial | 3% | 103.143
|
| 2016 | Serial | 5% | 114.174
|
| 2017 | Serial | 3.25% | 103.21
|
| 2017 | Serial | 5% | 114.228
|
| 2018 | Serial | 3% | 100
|
| 2018 | Serial | 5% | 114.064
|
| 2019 | Serial | 4% | 105.947
|
| 2019 | Serial | 5% | 113.671
|
| 2020 | Serial | 4% | 105.031
|
| 2020 | Serial | 5% | 113.419
|
| 2021 | Serial | 3.5% | 99.548
|
| 2021 | Serial | 5% | 112.072
|
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