Published on 7/11/2013 in the Prospect News Municipals Daily.
New Issue: New York Mortgage Agency brings $125.87 million mortgage revenue bonds
By Sheri Kasprzak
New York, July 11 - The New York State Mortgage Agency priced $125,865,000 of homeowner mortgage revenue bonds, said a pricing sheet.
The bonds were sold through Barclays.
The deal included $79.37 million of series 178 non-AMT bonds, $13.09 million of series 179 non-AMT bonds and $33,405,000 of series 180 AMT bonds.
The series 178 bonds are due 2028, 2033, 2038 and 2043. The 2028 bonds have a 4.2% coupon, the 2033 bonds have a 4.65% coupon and the 2038 bonds have a 4.85% coupon all priced at par. The 2043 bonds have a 3.5% coupon priced at 103.395 to yield 2.75% and a 4.9% coupon priced at par.
The series 179 bonds are due 2015 to 2017 with 0.65% to 1.65% coupons all priced at par.
The series 180 bonds are due 2015 to 2023 with coupons from 0.90% to 4.10% all priced at par.
Proceeds will be used to finance mortgage loans and program costs.
| Issuer: | New York State Mortgage Agency
|
| Issue: | Homeowner mortgage revenue bonds
|
| Amount: | $127,865,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BofA Merrill Lynch, CastleOak Securities LP, Loop Capital Markets LLC, M&T Securities Inc., Ramirez & Co. Inc. and Roosevelt & Cross Inc. (co-managers)
|
| Pricing date: | July 11
|
| Settlement date: | July 18
|
|
|
| $79.37 million series 178 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.95 million | 2028 | Term | 4.2% | 100 | 4.20%
|
| $19.5 million | 2033 | Term | 4.65% | 100 | 4.65%
|
| $17,085,000 | 2038 | Term | 4.85% | 100 | 4.85%
|
| $18.48 million | 2043 | Term | 3.5% | 103.395 | 2.75%
|
| $22,355,000 | 2043 | Term | 4.9% | 100 | 4.90%
|
|
|
| $13.09 million series 179 non-AMT bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.78 million | 2015 | Serial | 0.65% | 100 | 0.65%
|
| $2,595,000 | 2016 | Serial | 1.10% | 100 | 1.10%
|
| $2.66 million | 2016 | Serial | 1.25% | 100 | 1.25%
|
| $6,055,000 | 2017 | Serial | 1.65% | 100 | 1.65%
|
|
|
| $33,405,000 series 180AMT bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,515,000 | 2015 | Serial | 0.90% | 100 | 0.90%
|
| $1.55 million | 2015 | Serial | 1.05% | 100 | 1.05%
|
| $1,585,000 | 2016 | Serial | 1.55% | 100 | 1.55%
|
| $1.62 million | 2016 | Serial | 1.70% | 100 | 1.70%
|
| $1,655,000 | 2017 | Serial | 2.10% | 100 | 2.10%
|
| $1,695,000 | 2017 | Serial | 2.20% | 100 | 2.20%
|
| $1,735,000 | 2018 | Serial | 2.60% | 100 | 2.60%
|
| $1,775,000 | 2018 | Serial | 2.70% | 100 | 2.70%
|
| $1,815,000 | 2019 | Serial | 3.05% | 100 | 3.05%
|
| $1,865,000 | 2019 | Serial | 3.10% | 100 | 3.10%
|
| $1,905,000 | 2020 | Serial | 3.40% | 100 | 3.40%
|
| $1,955,000 | 2020 | Serial | 3.45% | 100 | 3.45%
|
| $1,995,000 | 2021 | Serial | 3.65% | 100 | 3.65%
|
| $2.05 million | 2021 | Serial | 3.70% | 100 | 3.70%
|
| $2,095,000 | 2022 | Serial | 3.90% | 100 | 3.90%
|
| $2,145,000 | 2022 | Serial | 3.95% | 100 | 3.95%
|
| $2.2 million | 2023 | Serial | 4.05% | 100 | 4.05%
|
| $2.25 million | 2023 | Serial | 4.10% | 100 | 4.10%
|
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