By Sheri Kasprzak
New York, Aug. 31 - The New York Local Government Assistance Corp. priced $184.04 million of series 2011A subordinate-lien refunding bonds, according to a pricing sheet.
The bonds were sold competitively with Bank of America Merrill Lynch winning the bid. The true interest cost came in at 1.654503%.
The bonds are due 2012 to 2021 with 4% to 5% coupons.
Proceeds will be used to refund the corporation's series 2008B-BV2 bonds.
| Issuer: | New York Local Government Assistance Corp.
|
| Issue: | Series 2011A subordinate-lien refunding bonds
|
| Amount: | $184.04 million
|
| Type: | Competitive
|
| Underwriter: | Bank of America Merrill Lynch
|
| TIC: | 1.654503%
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $8.435 million | 2012 | Serial | 5% | 102.621
|
| $15.925 million | 2013 | Serial | 5% | 107.236
|
| $16.72 million | 2014 | Serial | 5% | 111.768
|
| $17.56 million | 2015 | Serial | 5% | 115.598
|
| $18.435 million | 2016 | Serial | 5% | 117.922
|
| $19.36 million | 2017 | Serial | 5% | 119.848
|
| $20.325 million | 2018 | Serial | 5% | 121.183
|
| $21.34 million | 2019 | Serial | 5% | 122.006
|
| $22.41 million | 2020 | Serial | 5% | 122.486
|
| $23.53 million | 2021 | Serial | 4% | 113.941
|
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