By Sheri Kasprzak
New York, July 20 – The New York State Housing Finance Agency put together a bond program comprised of four tranches in three series of bonds, according to a statement from Greystone Bassuk.
The offering includes $26 million of series 2015A tax-exempt bonds, $23.3 million of series 2016A tax-exempt bonds, $125 million of series 2015B taxable bonds and $76.9 million of series 2017A taxable bonds.
The series 2015A bonds are due May 1, 2050 and initially bear interest at the weekly rate. The other bonds have not yet priced.
Proceeds from the offering will finance construction of 222 East 44th Street in Manhattan. The project, a 43-story high-rise multifamily residential apartment tower with a ground floor retail space and a multilevel parking garage, is located on a through-block site extending from 43rd and 44th streets between 2nd and 3rd avenues.
The bond financing will be supported by a $254 million construction-to-perm financing facility with the Bank of China, New York Branch.
| Issuer: | New York State Housing Finance Agency
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| Issue: | Series 2015A tax-exempt bonds
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| Amount: | $26 million
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| Maturity: | May 1, 2050
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| Coupon: | Weekly
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| Price: | 100
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| Type: | Negotiated
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| Underwriter: | Barclays
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| Pricing date: | May 20
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| Settlement date: | June 2
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