By Sheri Kasprzak
New York, Aug. 12 - The City of New York priced $965 million in series 2008A general obligation bonds, according to an official statement released Tuesday.
The sale included $800 million in series 2008A-1 bonds, which are due from 2010 to 2017 and from 2021 to 2029, as well as $165 million in series 2008A-2 bonds, which are due 2020. The 2008A-1 bonds have coupons from 4% to 5.25% and yields from 2.23% to 5.03%. The 2008A-2 bonds have a 5.64% coupon, priced at par.
J.P. Morgan Securities Inc. was the lead manager for the negotiated sale. The co-managers were Citigroup Global Markets; Merrill Lynch; Morgan Stanley; 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.
Proceeds will be used for capital purposes.
| Issuer: | City of New York
|
| Issue: | Series 2008A general obligation bonds
|
| Amount: | $965 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Citigroup Global Markets; Merrill Lynch; Morgan Stanley; 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: | Aug. 7
|
| Settlement date: | Aug. 20
|
|
|
| 2008A-1
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 4% | 2.23%
|
| 2011 | Serial | 4% | 2.78%
|
| 2012 | Serial | 5% | 3.10%
|
| 2013 | Serial | 5% | 3.41%
|
| 2014 | Serial | 4% | 3.63%
|
| 2014 | Serial | 5% | 3.63%
|
| 2015 | Serial | 4% | 3.79%
|
| 2015 | Serial | 5% | 3.79%
|
| 2016 | Serial | 4% | 3.94%
|
| 2016 | Serial | 5% | 3.94%
|
| 2017 | Serial | 4% | 4.07%
|
| 2021 | Serial | 4.5% | 4.66%
|
| 2021 | Serial | 5.25% | 4.66%
|
| 2022 | Serial | 4.5% | 4.75%
|
| 2022 | Serial | 5.25% | 4.75%
|
| 2023 | Serial | 4.6% | 4.81%
|
| 2023 | Serial | 5.25% | 4.81%
|
| 2024 | Serial | 5.25% | 4.87%
|
| 2025 | Serial | 4.75% | 5.00%
|
| 2026 | Serial | 5.25% | 4.97%
|
| 2026 | Serial | 5% | 5.02%
|
| 2027 | Serial | 5.25% | 5.00%
|
| 2028 | Serial | 4.875% | 5.02%
|
| 2028 | Serial | 5.25% | 5.02%
|
| 2029 | Serial | 4.875% | 5.03%
|
|
|
| 2008A-2
|
| Maturity | Type | Coupon | Yield
|
| 2020 | Term | 5.64% | 5.64%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
