Published on 6/26/2012 in the Prospect News Municipals Daily.
New Issue: New York State Environmental brings $313.13 million water revenue bonds
By Sheri Kasprzak
New York, June 26 - The New York State Environmental Facilities Corp. sold $313.13 million of series 2012D clean water and drinking water revolving funds revenue bonds, said a pricing sheet.
The bonds (//AAA) were sold through Jefferies & Co. and Estrada Hinojosa & Co. Inc. The co-managers were Bank of America Merrill Lynch, Blaylock Robert Van LLC, Fidelity Capital Markets LLC, Guggenheim Securities LLC, KeyBanc Capital Markets Inc., Mesirow Financial Inc., Prager & Co. LLC, RBC Capital Markets LLC, RBC Capital Markets LLC, Roosevelt & Cross Inc., Williams Capital Group LP, Barclays Capital Inc., CastleOak Securities LP, George K. Baum & Co., Janney Montgomery Scott LLC, Lebenthal & Co. LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC, BNY Mellon Capital Markets LLC, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Loop Capital Markets LLC, M.R. Beal & Co. Inc., Raymond James/Morgan Keegan, Rookfleet Financial Services Inc., Stifel, Nicolaus & Co. Inc. and Wells Fargo Securities LLC.
The bonds are due 2013 to 2028 with 2% to 5% coupons.
Proceeds will be used to refund bonds issued to provide financial assistance to the authority for water pollution and drinking water projects.
| Issuer: | New York State Environmental Facilities Corp.
|
| Issue: | Series 2012D clean water and drinking water revolving funds revenue bonds
|
| Amount: | $313.13 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. and Estrada Hinojosa & Co. Inc. (lead), Bank of America Merrill Lynch, Blaylock Robert Van LLC, Fidelity Capital Markets LLC, Guggenheim Securities LLC, KeyBanc Capital Markets Inc., Mesirow Financial Inc., Prager & Co. LLC, RBC Capital Markets LLC, RBC Capital Markets LLC, Roosevelt & Cross Inc., Williams Capital Group LP, Barclays Capital Inc., CastleOak Securities LP, George K. Baum & Co., Janney Montgomery Scott LLC, Lebenthal & Co. LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC, BNY Mellon Capital Markets LLC, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Loop Capital Markets LLC, M.R. Beal & Co. Inc., Raymond James/Morgan Keegan, Rookfleet Financial Services Inc., Stifel, Nicolaus & Co. Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Fitch: AAA
|
| Pricing date: | June 26
|
| Settlement date: | July 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.98 million | 2013 | Serial | 2% | NRO
|
| $5,955,000 | 2014 | Serial | 2% | 103.26
|
| $6,055,000 | 2015 | Serial | 3% | 107.28
|
| $6,225,000 | 2016 | Serial | 4% | 113.127
|
| $6,395,000 | 2017 | Serial | 4% | 115.057
|
| $680,000 | 2018 | Serial | 3% | 110.083
|
| $38 million | 2018 | Serial | 5% | 121.478
|
| $1,075,000 | 2019 | Serial | 4% | 116.455
|
| $38,825,000 | 2019 | Serial | 5% | 123.012
|
| $965,000 | 2020 | Serial | 4% | 116.5
|
| $33,145,000 | 2020 | Serial | 5% | 123.867
|
| $1,185,000 | 2021 | Serial | 4% | 116.538
|
| $33,985,000 | 2021 | Serial | 5% | 119.02
|
| $305,000 | 2022 | Serial | 4% | 116.843
|
| $35.96 million | 2022 | Serial | 5% | 125.755
|
| $37,385,000 | 2023 | Serial | 5% | 117.17
|
| $16,225,000 | 2024 | Serial | 5% | 122.64
|
| $16,595,000 | 2025 | Serial | 5% | 121.361
|
| $11.39 million | 2026 | Serial | 5% | 120.485
|
| $11.6 million | 2027 | Serial | 5% | 119.713
|
| $5.2 million | 2028 | Serial | 3% | 99
|
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