By Sheri Kasprzak
New York, Dec. 16 - The New York Municipal Bond Bank Agency priced on Wednesday $184.6 million of series 2009 recovery act bonds, said a sellside source familiar with the offering.
The offering was conducted in three tranches: a series 2009A (/AA+/) tranche, a 2009B tranche (/A+/) and a 2009C (/A/), according to the sellsider.
The bonds are due from 2010 to 2034 with coupons from 2% to 6.879% and yields from 0.45% to 6.879%.
The exact breakdown of the offering was not immediately available Wednesday afternoon.
Jefferies & Co. was the senior manager. The co-managers were RBC Capital Markets Corp. and Wells Fargo Securities Inc.
Proceeds will be used to distribute funds to local municipalities for various uses.
| Issuer: | New York Municipal Bond Bank Agency
|
| Issue: | Series 2009 recovery act bonds
|
| Amount: | $184.6 million
|
| Maturities: | 2010 to 2034
|
| Coupons: | 2% to 6.879%
|
| Yields: | 0.45% to 6.879%
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. (lead), RBC Capital Markets Corp. and Wells Fargo Securities Inc. (co-managers)
|
| Ratings: | Standard & Poor's: AA+ for 2009A
|
| Standard & Poor's: A+ for 2009B
|
| Standard & Poor's: A for 2009C
|
| Pricing date: | Dec. 16
|
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