By Sheri Kasprzak
New York, Feb. 26 - New York Local Government Assistance Corp. recently priced $392.61 million in 2008A refunding bonds, the terms of which were made available Tuesday.
The corporation priced the bonds (Aa3/AAA/AA-) on Feb. 20, according to an official statement released Tuesday. The bonds were sold on a competitive basis, but the winning bidder could not be determined Tuesday.
The bonds were priced in a serial structure from 2009 to 2021 with coupons from 3.25% to 5% and yields from 2% to 4.2%.
Proceeds will be used to refund all or a portion of the corporation's outstanding series 1996A senior bonds, 1997A senior bonds and 1997B senior bonds.
| Issuer: | New York Local Government Assistance Corp.
|
| Issue: | Series 2008A refunding bonds
|
| Amount: | $392.61 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AAA
|
| Fitch: AA-
|
| Pricing date: | Feb. 20
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 5% | 2.00%
|
| 2010 | Serial | 3.25% | 2.19%
|
| 2011 | Serial | 3.5% | 2.46%
|
| 2012 | Serial | 4% | 2.70%
|
| 2013 | Serial | 5% | 2.90%
|
| 2014 | Serial | 5% | 3.05%
|
| 2015 | Serial | 5% | 3. 27%
|
| 2016 | Serial | 5% | 3.40%
|
| 2017 | Serial | 5% | 3.55%
|
| 2018 | Serial | 5% | 3.71%
|
| 2019 | Serial | 5% | 3.92%
|
| 2020 | Serial | 5% | 4.06%
|
| 2021 | Serial | 4% | 4.20%
|
© 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.
