Published on 8/13/2014 in the Prospect News Municipals Daily.
New Issue: New York City offers up $980.05 million of general obligation bonds
By Sheri Kasprzak
New York, Aug. 13 – The City of New York sold $980.05 million of series 2015 general obligation bonds, said a pricing sheet. The offering was upsized from $900 million.
The deal included $775.25 million of series 2015A bonds and $204.8 million of series 2015B bonds.
The 2015A bonds are due 2016 to 2034 with coupons from 2.5% to 5%.
The 2015B bonds are due 2015 to 2034 with coupons from 2% to 5%.
The bonds were offered through joint bookrunners BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Jefferies & Co. and Siebert Brandford Shank & Co. LLC.
Proceeds will be used to finance capital expenditures as part of the city’s four-year capital plan.
| Issuer: | City of New York
|
| Issue: | Series 2015 general obligation bonds
|
| Amount: | $980.05 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Jefferies & Co. and Siebert Brandford Shank & Co. LLC (joint bookrunners), Barclays, Janney Montgomery Scott LLC, PNC Capital Markets LLC, RBC Capital Markets LLC, Southwest Securities Inc., Fidelity Capital Markets, Ramirez & Co. Inc., Lebenthal & Co. LLC, Rice Financial Products Co., Goldman Sachs & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Wells Fargo Securities LLC, Blaylock Beal Van LLC, Cabrera Capital Markets LLC, TD Securities (USA) LLC and Drexel Hamilton LLC (co-managers)
|
| Pricing date: | Aug. 13
|
| Settlement date: | Sept. 4
|
|
|
| $775.25 million series 2015A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $49,025,000 | 2016 | Serial | 3% | 105.035
|
| $52,495,000 | 2017 | Serial | 5% | 112.511
|
| $44.65 million | 2018 | Serial | 5% | 115.293
|
| $54,245,000 | 2019 | Serial | 5% | 117.069
|
| $6.06 million | 2020 | Serial | 5% | 118.35
|
| $60,685,000 | 2021 | Serial | 5% | 119.194
|
| $58.47 million | 2022 | Serial | 5% | 119.579
|
| $3.12 million | 2023 | Serial | 4% | 111.91
|
| $63,635,000 | 2023 | Serial | 5% | 119.852
|
| $4,245,000 | 2024 | Serial | 2.5% | 99.043
|
| $60.75 million | 2024 | Serial | 5% | 120.745
|
| $55,125,000 | 2025 | Serial | 5% | 119.3
|
| $31.98 million | 2026 | Serial | 5% | 118.064
|
| $29.75 million | 2027 | Serial | 5% | 117.405
|
| $17.29 million | 2028 | Serial | 5% | 116.657
|
| $17.38 million | 2029 | Serial | 5% | 115.914
|
| $17.38 million | 2030 | Serial | 5% | 115.361
|
| $25.85 million | 2031 | Serial | 5% | 114.903
|
| $25.55 million | 2032 | Serial | 5% | 114.265
|
| $10.35 million | 2033 | Serial | 3.5% | 98.634
|
| $7,665,000 | 2033 | Serial | 5% | 113.811
|
| $17,625,000 | 2034 | Serial | 3.5% | 97.888
|
| $7,925,000 | 2034 | Serial | 5% | 113.36
|
|
|
| $204.8 million series 2015B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $10,625,000 | 2015 | Serial | 2% | 101.724
|
| $10.1 million | 2016 | Serial | 3% | 105.035
|
| $14,555,000 | 2017 | Serial | 5% | 112.511
|
| $3.41 million | 2018 | Serial | 3% | 107.646
|
| $5.89 million | 2018 | Serial | 5% | 115.293
|
| $5,325,000 | 2019 | Serial | 3% | 107.612
|
| $8,575,000 | 2019 | Serial | 5% | 117.069
|
| $2,355,000 | 2020 | Serial | 4% | 112.755
|
| $6,945,000 | 2020 | Serial | 5% | 118.35
|
| $3,465,000 | 2021 | Serial | 3% | 105.758
|
| $10.44 million | 2021 | Serial | 5% | 118.556
|
| $2.33 million | 2022 | Serial | 3% | 105.181
|
| $6.99 million | 2022 | Serial | 5% | 119.579
|
| $2.08 million | 2023 | Serial | 3% | 103.969
|
| $11,825,000 | 2023 | Serial | 5% | 119.852
|
| $765,000 | 2024 | Serial | 4% | 112.065
|
| $10.22 million | 2024 | Serial | 5% | 120.745
|
| $9.3 million | 2025 | Serial | 5% | 119.3
|
| $9.3 million | 2026 | Serial | 5% | 118.064
|
| $9,365,000 | 2027 | Serial | 3% | 98.941
|
| $9.3 million | 2028 | Serial | 5% | 116.657
|
| $9,375,000 | 2029 | Serial | 3.25% | 99.063
|
| $9,365,000 | 2030 | Serial | 5% | 115.361
|
| $13,905,000 | 2031 | Serial | 3.375% | 98.664
|
| $9,425,000 | 2032 | Serial | 4% | 103.728
|
| $3,835,000 | 2033 | Serial | 5% | 113.811
|
| $5,735,000 | 2034 | Serial | 3.5% | 97.888
|
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