Published on 6/18/2014 in the Prospect News Municipals Daily.
New Issue: New York State Housing Finance prices $127.8 million housing bonds
By Sheri Kasprzak
New York, June 18 – The New York State Housing Finance Agency sold $127.8 million of series 2014B affordable housing revenue bonds, according to a pricing sheet.
The bonds were sold through senior managers J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC.
The bonds are due 2014 to 2025 with term bonds due in 2029, 2034, 2039, 2044 and 2054.
The serial coupons range from 0.3% to 3.2%, all priced at par. The 2029 bonds have a 3.6% coupon, the 2034 bonds a 3.95% coupon, the 2039 bonds a 4.15% coupon, the 2044 bonds a 4.2% coupon and the 2054 bonds a 4.5% coupon, all priced at par.
Proceeds will be used to finance mortgage loans for four affordable housing projects.
| Issuer: | New York State Housing Finance Agency
|
| Issue: | Series 2014B affordable housing revenue bonds
|
| Amount: | $127.8 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC (lead), Lebenthal & Co. LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and RBC Capital Markets LLC (co-managers)
|
| Pricing date: | June 18
|
| Settlement date: | June 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $670,000 | 2014 | Serial | 0.30% | 100
|
| $25,000 | 2016 | Serial | 0.40% | 100
|
| $80,000 | 2017 | Serial | 0.75% | 100
|
| $425,000 | 2017 | Serial | 0.85% | 100
|
| $9.44 million | 2017 | Serial | 0.85% | 100
|
| $15.6 million | 2017 | Serial | 0.85% | 100
|
| $440,000 | 2018 | Serial | 1.20% | 100
|
| $11.9 million | 2018 | Serial | 1.25% | 100
|
| $31.28 million | 2018 | Serial | 1.25% | 100
|
| $445,000 | 2018 | Serial | 1.35% | 100
|
| $445,000 | 2019 | Serial | 1.60% | 100
|
| $455,000 | 2019 | Serial | 1.75% | 100
|
| $455,000 | 2020 | Serial | 2.00% | 100
|
| $455,000 | 2020 | Serial | 2.10% | 100
|
| $465,000 | 2021 | Serial | 2.35% | 100
|
| $470,000 | 2021 | Serial | 2.45% | 100
|
| $475,000 | 2022 | Serial | 2.65% | 100
|
| $485,000 | 2022 | Serial | 2.75% | 100
|
| $495,000 | 2023 | Serial | 2.90% | 100
|
| $500,000 | 2023 | Serial | 2.95% | 100
|
| $505,000 | 2024 | Serial | 3.00% | 100
|
| $515,000 | 2024 | Serial | 3.05% | 100
|
| $520,000 | 2025 | Serial | 3.20% | 100
|
| $535,000 | 2025 | Serial | 3.20% | 100
|
| $4,705,000 | 2029 | Term | 3.60% | 100
|
| $7,125,000 | 2034 | Term | 3.95% | 100
|
| $8,925,000 | 2039 | Term | 4.15% | 100
|
| $11.35 million | 2044 | Term | 4.20% | 100
|
| $18,615,000 | 2054 | Term | 4.50% | 100
|
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