Published on 12/9/2015 in the Prospect News Municipals Daily.
New Issue: New York City Housing brings $391.77 million of housing revenue bonds
By Sheri Kasprzak
New York, Dec. 9 – The New York City Housing Development Corp. sold $391,765,000 of series 2015 multifamily housing revenue bonds, according to a pricing sheet.
The deal included $128,795,000 of series 2015G-1 bonds, $47.16 million of series 2015G-2 bonds, $136.47 million of series 2015H bonds, $60.86 million of series 2015I bonds, $14,725,000 of series 2015J bonds and $3,755,000 of series 2015K bonds.
The 2015G-1 bonds are due 2016 to 2028 with term bonds due in 2030, 2035, 2040, 2045 and 2049. The serial coupons range from 0.3% to 3% all priced at par. The 2030 bonds have a 3.2% coupon, the 2035 bonds have a 3.55% coupon, the 2040 bonds have a 3.75% coupon and the 2045 bonds have a 3.85% coupon and the 2049 bonds have a 3.95% coupon, all priced at par.
The 2015G-2 bonds are due 2019 to 2028 with term bonds due in 2030, 2035, 2040, 2045 and 2049. The serial coupons range from 1.45% to 3% all priced at par. The 2030 bonds have a 3.2% coupon, the 2035 bonds have a 3.55% coupon, the 2040 bonds have a 3.75% coupon, the 2045 bonds have a 3.85% coupon and the 2049 bonds have a 3.95% coupon, all priced at par.
The 2015H bonds are due Nov. 1, 2045, and have a 2.95% coupon priced at par.
The 2015I bonds are due Nov. 1, 2045, and have a 2.95% coupon priced at par.
The 2015J bonds are due May 1, 2047, and have a 0.37% coupon priced at par.
The 2015K bonds are due Nov. 1, 2019, and have a 0.37% coupon priced at par.
Proceeds will be used for mortgage loans for multifamily housing projects in New York City.
| Issuer: | New York City Housing Development Corp.
|
| Issue: | Series 2015 multifamily housing revenue bonds
|
| Amount: | $391,765,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead for 2015G-I and sole for 2015J and 2015K), Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC (lead for 2015G and co-managers for 2015H-I), Academy Securities Inc., Merrill, Pierce, Fenner and Smith Inc., Barclays, Blaylock Beal Van LLC, Citigroup Global Markets Inc., Ramirez & Co. Inc., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., RBC Capital Markets LLC, Stern Brothers & Co. and Wells Fargo Securities LLC (co-managers for 2015G-I)
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 22
|
|
|
| $128,795,000 series 2015G-1 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $20,000 | 2016 | Serial | 0.30% | 100
|
| $50,000 | 2016 | Serial | 0.45% | 100
|
| $60,000 | 2017 | Serial | 0.75% | 100
|
| $50,000 | 2017 | Serial | 0.90% | 100
|
| $55,000 | 2018 | Serial | 1.10% | 100
|
| $30,000 | 2018 | Serial | 1.20% | 100
|
| $185,000 | 2019 | Serial | 1.35% | 100
|
| $57.87 million | 2019 | Serial | 1.35% | 100
|
| $16.65 million | 2019 | Serial | 1.45% | 100
|
| $540,000 | 2020 | Serial | 1.60% | 100
|
| $560,000 | 2020 | Serial | 1.70% | 100
|
| $555,000 | 2021 | Serial | 1.80% | 100
|
| $555,000 | 2021 | Serial | 1.90% | 100
|
| $580,000 | 2022 | Serial | 2.05% | 100
|
| $575,000 | 2022 | Serial | 2.10% | 100
|
| $585,000 | 2023 | Serial | 2.30% | 100
|
| $590,000 | 2023 | Serial | 2.35% | 100
|
| $600,000 | 2024 | Serial | 2.45% | 100
|
| $610,000 | 2024 | Serial | 2.55% | 100
|
| $615,000 | 2025 | Serial | 2.70% | 100
|
| $635,000 | 2025 | Serial | 2.75% | 100
|
| $640,000 | 2026 | Serial | 2.80% | 100
|
| $660,000 | 2026 | Serial | 2.85% | 100
|
| $655,000 | 2027 | Serial | 2.90% | 100
|
| $680,000 | 2027 | Serial | 2.95% | 100
|
| $680,000 | 2028 | Serial | 3.00% | 100
|
| $695,000 | 2028 | Serial | 3.00% | 100
|
| $2,865,000 | 2030 | Term | 3.20% | 100
|
| $8,235,000 | 2035 | Term | 3.55% | 100
|
| $10.11 million | 2040 | Term | 3.75% | 100
|
| $12.54 million | 2045 | Term | 3.85% | 100
|
| $9,065,000 | 2049 | Term | 3.95% | 100
|
|
|
| $47.16 million series 2015G-2 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $14.44 million | 2019 | Serial | 1.45% | 100
|
| $300,000 | 2020 | Serial | 1.60% | 100
|
| $305,000 | 2020 | Serial | 1.70% | 100
|
| $310,000 | 2021 | Serial | 1.80% | 100
|
| $310,000 | 2021 | Serial | 1.90% | 100
|
| $315,000 | 2022 | Serial | 2.05% | 100
|
| $320,000 | 2022 | Serial | 2.10% | 100
|
| $325,000 | 2023 | Serial | 2.30% | 100
|
| $330,000 | 2023 | Serial | 2.35% | 100
|
| $330,000 | 2024 | Serial | 2.45% | 100
|
| $340,000 | 2024 | Serial | 2.55% | 100
|
| $345,000 | 2025 | Serial | 2.70% | 100
|
| $345,000 | 2025 | Serial | 2.75% | 100
|
| $350,000 | 2026 | Serial | 2.80% | 100
|
| $355,000 | 2026 | Serial | 2.85% | 100
|
| $360,000 | 2027 | Serial | 2.90% | 100
|
| $370,000 | 2027 | Serial | 2.95% | 100
|
| $375,000 | 2028 | Serial | 3.00% | 100
|
| $380,000 | 2028 | Serial | 3.00% | 100
|
| $1,625,000 | 2030 | Term | 3.20% | 100
|
| $4,685,000 | 2035 | Term | 3.55% | 100
|
| $5.81 million | 2040 | Term | 3.75% | 100
|
| $7.3 million | 2045 | Term | 3.85% | 100
|
| $7,235,000 | 2049 | Term | 3.95% | 100
|
|
|
| $136.47 million series 2015H bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2045 | Term | 2.95% | 100
|
|
|
| $60.86 million series 2015I bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2045 | Term | 2.95% | 100
|
|
|
| $14,725,000 series 2015J bonds
|
| Maturity | Type | Coupon | Price
|
| May 1, 2047 | Term | 0.37% | 100
|
|
|
| $3,755,000 series 2015K bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2019 | Term | 0.37% | 100
|
|
|
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