Published on 5/4/2016 in the Prospect News Municipals Daily.
New Issue: New York State Housing Finance prices $105.22 million housing bonds
By Sheri Kasprzak
New York, May 4 – The New York State Housing Finance Agency sold $105,215,000 of series 2016B affordable housing revenue bonds, according to a pricing sheet.
The bonds were sold through senior managers J.P. Morgan Securities LLC and Loop Capital Markets LLC.
The bonds are due 2018 to 2027 with term bonds due in 2031, 2036, 2041, 2046 and 2049. The serial coupons range from 0.95% to 2.5%, all priced at par. The 2031 bonds have a 3.2% coupon, the 2036 bonds have a 3.2% coupon, the 2041 bonds have a 3.45% coupon, the 2046 bonds have a 3.5% coupon and the 2049 bonds have a 3.55% coupon, all priced at par.
Proceeds will be used to finance six mortgage loans to fund improvements to housing projects.
| Issuer: | New York State Housing Finance Agency
|
| Issue: | Series 2016B affordable housing revenue bonds
|
| Amount: | $105,215,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead), Academy Securities Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Ramirez & Co. Inc. (co-managers)
|
| Pricing date: | May 4
|
| Settlement date: | May 19
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $90,000 | 2018 | Serial | 0.95% | 100
|
| $7.16 million | 2018 | Serial | 0.95% | 100
|
| $8 million | 2018 | Serial | 0.95% | 100
|
| $4.7 million | 2018 | Serial | 0.95% | 100
|
| $160,000 | 2019 | Serial | 1.10% | 100
|
| $7.05 million | 2019 | Serial | 1.10% | 100
|
| $5.8 million | 2019 | Serial | 1.10% | 100
|
| $435,000 | 2019 | Serial | 1.15% | 100
|
| $450,000 | 2020 | Serial | 1.30% | 100
|
| $32.09 million | 2020 | Serial | 1.30% | 100
|
| $455,000 | 2020 | Serial | 1.35% | 100
|
| $455,000 | 2021 | Serial | 1.45% | 100
|
| $460,000 | 2021 | Serial | 1.45% | 100
|
| $465,000 | 2022 | Serial | 1.65% | 100
|
| $465,000 | 2022 | Serial | 1.70% | 100
|
| $470,000 | 2023 | Serial | 1.85% | 100
|
| $475,000 | 2023 | Serial | 1.90% | 100
|
| $480,000 | 2024 | Serial | 2.00% | 100
|
| $490,000 | 2024 | Serial | 2.00% | 100
|
| $500,000 | 2025 | Serial | 2.20% | 100
|
| $505,000 | 2025 | Serial | 2.20% | 100
|
| $505,000 | 2026 | Serial | 2.30% | 100
|
| $515,000 | 2026 | Serial | 2.35% | 100
|
| $520,000 | 2027 | Serial | 2.45% | 100
|
| $525,000 | 2027 | Serial | 2.50% | 100
|
| $4.47 million | 2031 | Serial | 2.95% | 100
|
| $6.43 million | 2036 | Term | 3.20% | 100
|
| $7.62 million | 2041 | Term | 3.45% | 100
|
| $9,095,000 | 2046 | Term | 3.50% | 100
|
| $4.38 million | 2049 | Term | 3.55% | 100
|
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