By Sheri Kasprzak
New York, June 22 - The New York City Municipal Water Finance Authority sold on Tuesday $400 million of fiscal 2010 series GG water and sewer second general resolution revenue bonds, said a term sheet.
The bonds (Aa2/AA+/AA+) were sold through lead manager Morgan Keegan & Co. Inc.
The co-managers included Barclays Capital Inc.; Jefferies & Co.; M.R. Beal & Co.; Ramirez & Co. Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Fidelity Capital Markets; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Morgan Stanley & Co. Inc; Raymond James & Associates Inc.; RBC Capital Markets Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Wells Fargo Bank, N.A.; BB&T Capital Markets; Lebenthal & Co. LLC; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; Stifel, Nicolaus & Co.; and Stone & Youngberg.
The bonds are due June 15, 2042 with split maturities. The bonds have a 5.724% coupon and a 6.124% coupon, both priced at par.
Proceeds will be used to redeem existing commercial paper notes and finance improvements to the city's water and sewer system.
| Issuer: | New York City Municipal Water Finance Authority
|
| Issue: | Fiscal 2010 series GG water and sewer second general resolution revenue bonds
|
| Amount: | $400 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co. Inc. (lead); Barclays Capital Inc.; Jefferies & Co.; M.R. Beal & Co.; Ramirez & Co. Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Fidelity Capital Markets; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Morgan Stanley & Co. Inc; Raymond James & Associates Inc.; RBC Capital Markets Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Wells Fargo Bank, N.A.; BB&T Capital Markets; Lebenthal & Co. LLC; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; Stifel, Nicolaus & Co.; and Stone & Youngberg (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
| Pricing date: | June 22
|
| Settlement date: | June 30
|
|
|
| Maturity | Type | Coupon | Price
|
| June 15, 2042 | Term | 5.724% | 100
|
| June 15, 2042 | Term | 6.124% | 100
|
© 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.
