By Sheri Kasprzak
New York, July 26 - The City of New York sold $799.715 million of series 2012 general obligation bonds, according to a pricing sheet.
The offering included $515 million of series 2012A-1 tax-exempt bonds, $85 million of series 2012A-2 taxable bonds, $182.24 million of series 2012B tax-exempt bonds and $17.475 million of series 2012C tax-exempt bonds.
The bonds were sold on a negotiated basis through senior manager Citigroup Global Markets Inc.
The co-managers were Bank of America Merrill Lynch; J.P. Morgan Securities LLC; Morgan Stanley & Co. Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co.; Fidelity Capital Markets LLC; 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 LLC; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities (USA) LLC.
The 2012A-1 bonds are due 2017 to 2032 with a term bond due in 2035. The serial coupons range from 4% to 5%. The 2035 bonds have a split maturity with a 4.5% coupon priced at 98.698 and a 5% coupon priced at 103.251.
The 2012A-2 bonds are due 2013 to 2017 with 0.78% to 2.56%, all priced at par.
The 2012B bonds are due 2013 to 2023 with coupons from 2.5% to 5%.
The 2012C bonds are due 2012 to 2019 with 2% to 5% coupons.
Proceeds will be used to fund capital requirements.
| Issuer: | City of New York
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $799.715 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead); Bank of America Merrill Lynch; J.P. Morgan Securities LLC; Morgan Stanley & Co. Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co.; Fidelity Capital Markets LLC; 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 LLC; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities (USA) LLC (co-managers)
|
| Pricing date: | July 22
|
| Settlement date: | Aug. 9
|
|
|
| $515 million series 2012A-1 tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.035 million | 2017 | Serial | 4% | 111.753
|
| $19.6 million | 2018 | Serial | 5% | 117.173
|
| $20.58 million | 2019 | Serial | 5% | 116.563
|
| $21.61 million | 2020 | Serial | 5% | 116.321
|
| $22.69 million | 2021 | Serial | 5% | 116.291
|
| $23.825 million | 2022 | Serial | 5% | 114.077
|
| $25.02 million | 2023 | Serial | 5% | 112.45
|
| $26.27 million | 2024 | Serial | 5% | 110.939
|
| $27.585 million | 2025 | Serial | 5% | 109.799
|
| $1.925 million | 2026 | Serial | 4.25% | 102.952
|
| $27.035 million | 2026 | Serial | 5% | 109.105
|
| $30.395 million | 2027 | Serial | 5% | 108.331
|
| $31.915 million | 2028 | Serial | 5% | 107.733
|
| $33.51 million | 2029 | Serial | 5% | 106.97
|
| $35.185 million | 2030 | Serial | 5% | 106.381
|
| $7.58 million | 2031 | Serial | 4.25% | 99.465
|
| $29.365 million | 2031 | Serial | 5% | 105.713
|
| $38.735 million | 2032 | Serial | 5% | 104.884
|
| $15.995 million | 2035 | Term | 4.5% | 98.698
|
| $73.145 million | 2035 | Term | 5% | 103.251
|
|
|
| $85 million series 2012A-2 taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $16.005 million | 2013 | Serial | 0.78% | 100
|
| $16.085 million | 2014 | Serial | 1.2% | 100
|
| $18.295 million | 2015 | Serial | 1.73% | 100
|
| $18.52 million | 2016 | Serial | 2.13% | 100
|
| $16.095 million | 2017 | Serial | 2.56% | 100
|
|
|
| $182.24 million series 2012B tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.32 million | 2013 | Serial | 2.5% | 103.83
|
| $2.965 million | 2013 | Serial | 4% | 106.776
|
| $13.285 million | 2014 | Serial | 3% | 106.217
|
| $5.055 million | 2015 | Serial | 4% | 111.008
|
| $8.245 million | 2015 | Serial | 5% | 114.885
|
| $5.83 million | 2016 | Serial | 4% | 111.896
|
| $13.705 million | 2016 | Serial | 5% | 116.674
|
| $19.55 million | 2017 | Serial | 4% | 111.753
|
| $6.5 million | 2018 | Serial | 4% | 110.765
|
| $6.8 million | 2018 | Serial | 5% | 117.173
|
| $7.085 million | 2019 | Serial | 4% | 109.423
|
| $12.455 million | 2019 | Serial | 5% | 116.563
|
| $840,000 | 2020 | Serial | 4% | 108.474
|
| $12.45 million | 2020 | Serial | 5% | 116.321
|
| $5.46 million | 2021 | Serial | 4% | 107.761
|
| $14.075 million | 2021 | Serial | 5% | 116.291
|
| $1.05 million | 2022 | Serial | 4% | 105.647
|
| $18.48 million | 2022 | Serial | 5% | 114.077
|
| $6.4 million | 2023 | Serial | 4% | 104.094
|
| $11.69 million | 2023 | Serial | 5% | 112.45
|
|
|
| $17.475 million series 2012C tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.68 million | 2012 | Serial | 2% | 101.757
|
| $3.115 million | 2013 | Serial | 2% | 102.848
|
| $1.09 million | 2014 | Serial | 2.5% | 104.75
|
| $1 million | 2014 | Serial | 3% | 106.217
|
| $1.73 million | 2015 | Serial | 3% | 107.132
|
| $625,000 | 2016 | Serial | 3% | 107.118
|
| $1.105 million | 2016 | Serial | 4% | 111.896
|
| $2.55 million | 2017 | Serial | 3% | 106.129
|
| $565,000 | 2018 | Serial | 4% | 110.765
|
| $1.005 million | 2018 | Serial | 5% | 117.173
|
| $1.01 million | 2019 | Serial | 5% | 116.563
|
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