By Sheri Kasprzak
New York, Jan. 20 - The New York State Mortgage Agency priced $82.485 million in homeowner mortgage revenue bonds, according to an official statement released Tuesday.
The sale included $11.56 million in series 160 non-AMT bonds, $45.925 million in series 161 non-AMT bonds and $25 million in series 162 non-AMT variable-rate bonds.
The bonds were sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager for the fixed-rate bonds and the sole manager for the variable-rate bonds.
The co-managers for the fixed-rate bonds were Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Merrill Lynch & Co.; Ramirez & Co. Inc.; RBC Capital Markets Corp.; and Roosevelt & Cross Inc.
The series 160 bonds are due 2009 to 2018 with coupons from 1% to 4%, all priced at par.
The series 161 bonds are due Oct. 1, 2018 with term bonds due 2023, 2028, 2033 and 2039. The 2018 bonds have a 4% coupon, priced at par. The 2023 bonds have a 5.05% coupon, the 2028 bonds have a 5.5% coupon, the 2033 bonds have a 5.8% coupon and the 2039 bonds have a 5.875% coupon, all priced at par.
The series 162 bonds are due April 1, 2039, and the rate resets weekly. The initial rate was not immediately available.
Proceeds will be used for mortgage loans.
| Issuer: | New York State Mortgage Agency
|
| Issue: | Homeowner mortgage revenue bonds
|
| Amount: | $82.485 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead for series 160 and 161, sole for series 162); Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Merrill Lynch & Co.; Ramirez & Co. Inc.; RBC Capital Markets Corp.; and Roosevelt & Cross Inc.
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 22
|
|
|
| Series 160 bonds
|
| Maturity | Type | Coupon | Price
|
| 2009 | Serial | 1% | Par
|
| 2009 | Serial | 1.35% | Par
|
| 2010 | Serial | 1.55% | Par
|
| 2010 | Serial | 1.90% | Par
|
| 2011 | Serial | 2.5% | Par
|
| 2011 | Serial | 2.6% | Par
|
| 2012 | Serial | 2.7% | Par
|
| 2012 | Serial | 2.8% | Par
|
| 2013 | Serial | 2.9% | Par
|
| 2013 | Serial | 3% | Par
|
| 2014 | Serial | 3.05% | Par
|
| 2014 | Serial | 3.15% | Par
|
| 2015 | Serial | 3.3% | Par
|
| 2015 | Serial | 3.3% | Par
|
| 2016 | Serial | 3.55% | Par
|
| 2016 | Serial | 3.55% | Par
|
| 2017 | Serial | 3.75% | Par
|
| 2017 | Serial | 3.75% | Par
|
| 2018 | Serial | 4% | Par
|
|
|
| Series 161 bonds
|
| Maturity | Type | Coupon | Price
|
| Oct. 1, 2018 | Serial | 4% | Par
|
| Oct. 1, 2023 | Term | 5.05% | Par
|
| Oct. 1, 2028 | Term | 5.5% | Par
|
| Oct. 1, 2033 | Term | 5.8% | Par
|
| Oct. 1, 2039 | Term | 5.875% | Par
|
|
|
| Series 162 bonds
|
| Maturity | Type | Coupon | Yield
|
| April 1, 2039 | Term | Weekly | Par
|
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