New York City Housing coordinates $632.45 million sale of revenue debt

By Sheri Kasprzak

New York, June 9 – The New York City Housing Development Corp. is set to price $632,455,000 of series 2015 multifamily housing revenue bonds, according to a preliminary official statement.

The deal includes $496,445,000 of series 2015D-1 fixed-rate bonds, $64.14 million of series 2015D-2 fixed-rate bonds, $15 million of series 2015D-3 variable-rate bonds, $13.5 million of series 2015D-4 variable-rate bonds, $40.11 million of series 2015E taxable fixed-rate bonds and $3.26 million of series 2014I remarketed fixed-rate bonds.

The bonds will be sold on a negotiated basis with J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Citigroup Global Markets Inc., Wells Fargo Securities LLC, Academy Securities Inc., Barclays, BofA Merrill Lynch, George K. Baum & Co. Inc., Janney Montgomery Scott LLC, Jefferies & Co., Loop Capital Markets LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Stern Brothers and Stifel, Nicolaus & Co. Inc. as the underwriters.

The 2015D-1 bonds are due 2017 to 2026 with term bonds due in 2017, 2018, 2019, 2030, 2035, 2040, 2045 and 2048.

The 2015D-2 bonds are due 2016 to 2026 with term bonds due in 2030 and 2035.

The 2015E bonds are due 2015 to 2026 with term bonds due in 2030, 2037 and 2044.

The maturities for the 2015D-3 and 2015D-4 bonds have not been set.

The 2014I bonds are due Nov. 1, 2018.

Proceeds will be used to finance socially beneficially multifamily housing projects in the city.

© 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.