Published on 6/3/2014 in the Prospect News Municipals Daily.
New Issue: New York State Environmental prices $213.15 million of revenue bonds
By Sheri Kasprzak
New York, June 3 - The New York State Environmental Facilities Corp. sold $213.15 million of series 2014B state revolving fund revenue bonds, said a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold through J.P. Morgan Securities LLC and Loop Capital Markets LLC.
The bonds are due 2014 to 2036 with term bonds due in 2039 and 2044. The serial coupons range from 1% to 5%. The 2039 bonds have a 5% coupon priced at 113.226 and the 2044 bonds have a 5% coupon priced at 112.779.
Proceeds will be used to finance loans to local governments for clean and drinking water projects.
| Issuer: | New York State Environmental Facilities Corp.
|
| Issue: | Series 2014B state revolving fund revenue bonds
|
| Amount: | $213.15 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead); BofA Merrill Lynch; Barclays; BNY Capital Markets LLC; Blaylock Beal Van LLC; CastleOak Securities LP; Citigroup Global Markets Inc.; Estrada Hinojosa & Co. Inc.; Fidelity Capital Markets Inc.; George K. Baum & Co.; Goldman, Sachs & Co.; Guggenheim Securities LLC; Janney Montgomery Scott LLC; Jefferies & Co.; KeyBanc Capital Markets Inc.; Lebenthal & Co. LLC; Mesirow Finacial Inc.; Morgan Stanley & Co. LLC; Prager & Co. LLC; Ramirez & Co. Inc.; Ramirez & Co. Inc.; Raymond James/Morgan Keegan; Rice Financial Products Co.; RBC Capital Markets LLC; Rockfleet; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Stifel, Nicolaus & Co. Inc.; The Williams Capital Group LP; and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | June 3
|
| Settlement date: | July 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.32 million | 2014 | Serial | 1% | 100.332
|
| $5.25 million | 2015 | Serial | 1% | 100.755
|
| $1,665,000 | 2015 | Serial | 2% | 102.474
|
| $5.21 million | 2016 | Serial | 2% | 103.204
|
| $1.68 million | 2016 | Serial | 2% | 103.841
|
| $2,475,000 | 2017 | Serial | 3% | 107.714
|
| $6.16 million | 2017 | Serial | 5% | 112.589
|
| $2,535,000 | 2018 | Serial | 3% | 108.529
|
| $6.31 million | 2018 | Serial | 5% | 115.556
|
| $2,965,000 | 2019 | Serial | 2% | 103.249
|
| $6.31 million | 2019 | Serial | 5% | 117.868
|
| $3,975,000 | 2020 | Serial | 3% | 108.192
|
| $6,485,000 | 2020 | Serial | 5% | 119.592
|
| $3.1 million | 2021 | Serial | 5% | 121.375
|
| $6.52 million | 2021 | Serial | 5% | 120.803
|
| $2.42 million | 2022 | Serial | 2% | 99.311
|
| $6.48 million | 2022 | Serial | 5% | 121.741
|
| $2.16 million | 2023 | Serial | 4% | 114.707
|
| $6.36 million | 2023 | Serial | 5% | 122.628
|
| $2.52 million | 2024 | Serial | 4% | 114.456
|
| $6,305,000 | 2024 | Serial | 5% | 123.715
|
| $6.31 million | 2025 | Serial | 5% | 122.428
|
| $1.51 million | 2025 | Serial | 5% | 121.742
|
| $1.55 million | 2026 | Serial | 3% | 103.195
|
| $5,515,000 | 2026 | Serial | 5% | 121.061
|
| $5.48 million | 2027 | Serial | 5% | 119.999
|
| $1,625,000 | 2027 | Serial | 5% | 119.711
|
| $7,205,000 | 2028 | Serial | 5% | 119.138
|
| $7.28 million | 2029 | Serial | 5% | 118.285
|
| $7,385,000 | 2030 | Serial | 5% | 117.439
|
| $7.55 million | 2031 | Serial | 5% | 116.786
|
| $7,615,000 | 2032 | Serial | 5% | 116.137
|
| $8,565,000 | 2033 | Serial | 5% | 115.492
|
| $6.77 million | 2034 | Serial | 3.5% | 100
|
| $5.5 million | 2035 | Serial | 5% | 114.579
|
| $5.61 million | 2036 | Serial | 5% | 114.126
|
| $16,085,000 | 2039 | Term | 5% | 113.226
|
| $22.39 million | 2044 | Term | 5% | 112.779
|
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