By Sheri Kasprzak
New York, Dec. 6 - The State of New York brought $330.075 million of series 2011 general obligation bonds on Tuesday, according to a term sheet.
The deal included $299.165 million of series 2011E tax-exempt bonds and $30.91 million of series 2011F taxable bonds.
The 2011E bonds are due 2012 to 2034 with term bonds due in 2037 and 2041. The serial coupons range from 2% to 5%. The 2037 bonds have a 4% coupon priced at 97.627 and the 2041 bonds have a 4.25% coupon priced at par.
The 2011F bonds are due 2012 to 2021 with 0.5% to 3% coupons.
J.P. Morgan Securities LLC took the tax-exempt portion of the competitive sale with a 3.521160% true interest cost.
Robert W. Baird & Co. Inc. won the taxable portion of the offering with a 2.310668% TIC.
Proceeds from the sale will be used to finance capital projects, including clean air and water initiatives and transportation projects.
| Issuer: | State of New York
|
| Issue: | Series 2011 general obligation bonds
|
| Amount: | $330.075 million
|
| Type: | Competitive
|
| Underwriters: | J.P. Morgan Securities LLC (winner for 2011E bonds); Robert W. Baird & Co. Inc. (winner for 2011F bonds)
|
| TIC: | 3.521160% (for 2011E); 2.310668% (for 2011F)
|
| Pricing date: | Dec. 6
|
| Settlement date; | Dec. 15
|
|
|
| $299.165 million series 2011E tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $8.35 million | 2012 | Serial | 2% | 101.736
|
| $8.515 million | 2013 | Serial | 4% | 107.122
|
| $8.855 million | 2014 | Serial | 5% | 112.807
|
| $9.295 million | 2015 | Serial | 5% | 115.816
|
| $9.765 million | 2016 | Serial | 5% | 118.815
|
| $10.25 million | 2017 | Serial | 5% | 121.097
|
| $10.765 million | 2018 | Serial | 5% | 122.728
|
| $11.305 million | 2019 | Serial | 5% | 123.742
|
| $11.87 million | 2020 | Serial | 5% | 123.946
|
| $12.465 million | 2021 | Serial | 5% | 124.503
|
| $9.49 million | 2022 | Serial | 5% | 124.786
|
| $9.97 million | 2023 | Serial | 5% | 124.721
|
| $10.465 million | 2024 | Serial | 3% | 99.466
|
| $10.78 million | 2025 | Serial | 3.125% | 98.936
|
| $11.12 million | 2026 | Serial | 3.25% | 98.828
|
| $11.48 million | 2027 | Serial | 4% | 106.719
|
| $11.94 million | 2028 | Serial | 4% | 105.444
|
| $12.415 million | 2029 | Serial | 3.5% | 98.501
|
| $12.85 million | 2030 | Serial | 5% | 121.157
|
| $13.495 million | 2031 | Serial | 3.75% | 98.614
|
| $6.96 million | 2032 | Serial | 4% | 100
|
| $7.24 million | 2033 | Serial | 4% | 99.276
|
| $7.53 million | 2034 | Serial | 4% | 98.519
|
| $24.445 million | 2037 | Term | 4% | 97.627
|
| $37.55 million | 2041 | Term | 4.25% | 100
|
|
|
| $30.91 million series 2011F taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.92 million | 2012 | Serial | 0.5% | 100
|
| $2.935 million | 2013 | Serial | 1% | 100.594
|
| $2.965 million | 2014 | Serial | 1% | 100.295
|
| $2.995 million | 2015 | Serial | 1.2% | 100
|
| $3.03 million | 2016 | Serial | 1.6% | 100
|
| $3.08 million | 2017 | Serial | 1.85% | 100
|
| $3.135 million | 2018 | Serial | 2.1% | 99.87
|
| $3.2 million | 2019 | Serial | 2.4% | 99.855
|
| $3.28 million | 2020 | Serial | 2.75% | 100.317
|
| $3.37 million | 2021 | Serial | 3% | 100
|
© 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.
