By Sheri Kasprzak
New York, Aug. 10 - The New York City Transitional Finance Authority brought to market $450 million of series 2012A future tax secured subordinated bonds, according to a pricing sheet. The offering was upsized from $300 million.
The bonds (Aa1/AAA/AAA) were sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Barclays Capital Inc.; Goldman, Sachs & Co.; Cabrera Capital Markets Inc.; Jefferies & Co.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; Morgan Keegan & Co. Inc.; RBC Capital Markets LLC; Bank of America Merrill Lynch; Fidelity Capital Markets LLC; Loop Capital Markets LLC; Rice Financial Products Co.; Oppenheimer & Co. Inc.; Southwest Securities Inc.; Stone & Youngberg; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; Jackson Securities Inc.; M.R. Beal & Co.; Roosevelt & Cross Inc.; Wells Fargo Securities LLC; Raymond James & Associates Inc.; and Stifel, Nicolaus & Co.
The bonds are due 2012 to 2029 with coupons from 1.5% to 5%.
Proceeds will be used to redeem existing bonds.
| Issuer: | New York City Transitional Finance Authority
|
| Issue: | Series 2012A future tax secured subordinated bonds
|
| Amount: | $450 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead); Barclays Capital Inc.; Goldman, Sachs & Co.; Cabrera Capital Markets Inc.; Jefferies & Co.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; Morgan Keegan & Co. Inc.; RBC Capital Markets LLC; Bank of America Merrill Lynch; Fidelity Capital Markets LLC; Loop Capital Markets LLC; Rice Financial Products Co.; Oppenheimer & Co. Inc.; Southwest Securities Inc.; Stone & Youngberg; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; Jackson Securities Inc.; M.R. Beal & Co.; Roosevelt & Cross Inc.; Wells Fargo Securities LLC; Raymond James & Associates Inc.; and Stifel, Nicolaus & Co. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $19.94 million | 2012 | Serial | 1.5% | 101.542
|
| $2.5 million | 2013 | Serial | 2% | 103.416
|
| $17.435 million | 2013 | Serial | 4% | 107.768
|
| $14.94 million | 2014 | Serial | 5% | 113.535
|
| $5 million | 2014 | Serial | 2% | 104.092
|
| $1.965 million | 2015 | Serial | 3% | 108.183
|
| $17.97 million | 2015 | Serial | 5% | 116.367
|
| $2.21 million | 2016 | Serial | 3% | 108.345
|
| $27.48 million | 2016 | Serial | 5% | 118.34
|
| $1 million | 2017 | Serial | 3% | 107.604
|
| $28.685 million | 2017 | Serial | 5% | 119.305
|
| $6.86 million | 2018 | Serial | 4% | 112.614
|
| $13.075 million | 2018 | Serial | 5% | 119.253
|
| $8 million | 2019 | Serial | 4% | 111.67
|
| $15.875 million | 2019 | Serial | 5% | 119.058
|
| $2.1 million | 2020 | Serial | 4% | 110.685
|
| $27.59 million | 2020 | Serial | 5% | 118.781
|
| $2.22 million | 2021 | Serial | 4% | 110.104
|
| $27.465 million | 2021 | Serial | 5% | 118.892
|
| $2.94 million | 2022 | Serial | 3.25% | 101.649
|
| $26.75 million | 2022 | Serial | 5% | 116.867
|
| $2.315 million | 2023 | Serial | 3.375% | 101.16
|
| $27.37 million | 2023 | Serial | 5% | 115.164
|
| $29.69 million | 2024 | Serial | 5% | 113.953
|
| $24.885 million | 2025 | Serial | 5% | 112.94
|
| $29.685 million | 2026 | Serial | 5% | 112.119
|
| $29.69 million | 2027 | Serial | 5% | 111.395
|
| $29.69 million | 2028 | Serial | 5% | 110.677
|
| $4.675 million | 2029 | Serial | 5% | 109.699
|
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