By Sheri Kasprzak
New York, Oct. 28 - The New York City Water Finance Authority priced $504.24 million in series 2010AA water and sewer system second general resolution Build America Bonds on Wednesday, according to a term sheet.
The bonds were sold through Barclays Capital Inc.
The offering was divided into two tranches, both of which are due in 2041.
The $403.39 million tranche has a 5.75% coupon, priced at par, and the $100.85 million tranche has a 6.25% coupon, also priced at par.
Proceeds will fund capital improvements to the city's water and sewer system.
| Issuer: | New York City Water Finance Authority
|
| Issue: | Series 2010AA water and sewer system second general resolution Build America Bonds
|
| Amount: | $504.24 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc. (lead)
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 5
|
|
|
| $403.39 million tranche
|
| Maturity | Type | Coupon | Price
|
| 2041 | Term | 5.75% | Par
|
|
|
| $100.85 million tranche
|
| Maturity | Type | Coupon | Price
|
| 2041 | Term | 6.25% | Par
|
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