Published on 2/2/2011 in the Prospect News Municipals Daily.
New Issue: New York City Transitional Finance brings $875 million of future tax secured bonds
By Sheri Kasprzak
New York, Feb. 2 - The New York City Transitional Finance Authority sold $875 million of series 2011D future tax secured bonds through Goldman, Sachs & Co., said a pricing sheet.
The bonds are due 2013 to 2031 with term bonds due in 2035. The serial coupons range from 2.5% to 5.25%. The 2035 bonds have a split maturity with a 5% coupon priced at 97.275 and a 5.125% coupon priced at 98.977.
The 2011D-2 bonds are due 2011 to 2020 with coupons from 2.62% to 4.38%, all priced at par.
The co-managers for the sale were Barclays Capital Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. Inc., J.P. Morgan Securities LLC, Cabrera Capital Markets LLC, Fidelity Capital Markets Inc., Jackson Securities, Jefferies & Co. Inc., Loop Capital Markets LLC, M.R. Beal & Co. Inc., Ramirez & Co. Inc., Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Wells Fargo Bank, NA, Morgan Keegan & Co. Inc., Oppenheimer & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets LLC, Southwest Securities Inc., Stifel, Nicolaus & Co. and Stone & Youngberg.
Proceeds will be used for capital expenditures for the city.
| Issuer: | New York City Transitional Finance Authority
|
| Issue: | Series 2011D future tax secured bonds
|
| Amount: | $875 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead); Barclays Capital Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. Inc., J.P. Morgan Securities LLC, Cabrera Capital Markets LLC, Fidelity Capital Markets Inc., Jackson Securities, Jefferies & Co. Inc., Loop Capital Markets LLC, M.R. Beal & Co. Inc., Ramirez & Co. Inc., Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Wells Fargo Bank, NA, Morgan Keegan & Co. Inc., Oppenheimer & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets LLC, Southwest Securities Inc., Stifel, Nicolaus & Co. and Stone & Youngberg (co-managers)
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 10
|
|
|
| $775 million series 2011D-1
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 2.5% | 103.184
|
| 2013 | Serial | 4% | 106.115
|
| 2013 | Serial | 5% | 108.069
|
| 2014 | Serial | 3% | 104.765
|
| 2014 | Serial | 5% | 110.577
|
| 2015 | Serial | 3% | 104.231
|
| 2015 | Serial | 5% | 111.854
|
| 2016 | Serial | 4% | 108.339
|
| 2016 | Serial | 5% | 113.025
|
| 2017 | Serial | 3% | 102.367
|
| 2017 | Serial | 5% | 113.379
|
| 2018 | Serial | 4% | 106.445
|
| 2018 | Serial | 5% | 112.703
|
| 2019 | Serial | 3.25% | 99.859
|
| 2019 | Serial | 5% | 112.057
|
| 2020 | Serial | 3.5% | 99.694
|
| 2020 | Serial | 5% | 111.141
|
| 2021 | Serial | 3.75% | 99.669
|
| 2021 | Serial | 5% | 109.971
|
| 2022 | Serial | 5.25% | NRO
|
| 2023 | Serial | 4.125% | 98.927
|
| 2023 | Serial | 5% | 106.128
|
| 2024 | Serial | 5% | 104.718
|
| 2025 | Serial | 5% | 103.574
|
| 2026 | Serial | 4.625% | 99.305
|
| 2026 | Serial | 5% | 102.445
|
| 2027 | Serial | 5% | 101.569
|
| 2028 | Serial | 5% | 100.78
|
| 2029 | Serial | 5% | 100.31
|
| 2029 | Serial | 5.25% | 103.132
|
| 2030 | Serial | 5.25% | 102.734
|
| 2031 | Serial | 5% | 99.125
|
| 2035 | Term | 5% | 97.275
|
| 2035 | Term | 5.125% | 98.977
|
|
|
| $100 million series 2011D-2
|
| Amount | Maturity | Type | Coupon | Price
|
| $15.335 million | 2015 | Serial | 2.62% | 100
|
| $16.23 million | 2016 | Serial | 3.02% | 100
|
| $17.195 million | 2017 | Serial | 3.57% | 100
|
| $18.25 million | 2018 | Serial | 3.77% | 100
|
| $12.2 million | 2019 | Serial | 4.13% | 100
|
| $20.79 million | 2020 | Serial | 4.38% | 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.
