By Sheri Kasprzak
New York, March 12 - The New York State Thruway Authority priced $577.075 million in series 2010 second general highway and bridge trust fund bonds, according to an official statement.
The sale included $300.105 million in series 2010A tax-exempt bonds and $276.97 million in series 2010B taxable Build America Bonds.
The 2010A bonds are due 2011 to 2026 with coupons from 3% to 5% and yields from 0.435% to 3.95%. The 2010B bonds are due 2019 to 2020 with term bonds due 2025 and 2030. The 2019 bonds have a 4.549% coupon, while the 2020 bonds have a 4.649% coupon. The 2025 bonds have a 5.449% coupon, and the 2030 bonds have a 5.883% coupon. All of the 2010B bonds priced at par.
The bonds (/AA/AA-) were sold through senior managers RBC Capital Markets Inc. and M.R. Beal & Co. Inc. The co-managers were Bank of America Merrill Lynch, Citigroup Global Markets Inc., Jefferies & Co., Fidelity Capital Markets Inc., KeyBanc Capital Markets LLC, Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Stifel, Nicolaus & Co. and Stone & Youngberg.
Proceeds from the sale will be used to fund bridge and highway improvements throughout the state.
| Issuer: | New York State Thruway Authority
|
| Issue: | Series 2010 second general highway and bridge trust fund bonds
|
| Amount: | $577.075 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets Inc. and M.R. Beal & Co. Inc. (lead); Bank of America Merrill Lynch, Citigroup Global Markets Inc., Jefferies & Co., Fidelity Capital Markets Inc., KeyBanc Capital Markets LLC, Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Stifel, Nicolaus & Co., and Stone & Youngberg (co-managers)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | March 9
|
| Settlement date: | March 17
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Yield
|
| 2011 | Serial | 3% | 0.435%
|
| 2012 | Serial | 3% | 0.80%
|
| 2012 | Serial | 4% | 0.80%
|
| 2013 | Serial | 3% | 1.11%
|
| 2013 | Serial | 4% | 1.11%
|
| 2013 | Serial | 5% | 1.11%
|
| 2014 | Serial | 4% | 1.48%
|
| 2014 | Serial | 5% | 1.48%
|
| 2015 | Serial | 3% | 1.90%
|
| 2015 | Serial | 4% | 1.90%
|
| 2015 | Serial | 5% | 1.90%
|
| 2016 | Serial | 3% | 2.36%
|
| 2016 | Serial | 4% | 2.36%
|
| 2016 | Serial | 5% | 2.36%
|
| 2017 | Serial | 3% | 2.69%
|
| 2017 | Serial | 4% | 2.69%
|
| 2017 | Serial | 5% | 2.69%
|
| 2018 | Serial | 4% | 2.95%
|
| 2018 | Serial | 5% | 2.95%
|
| 2021 | Serial | 5% | 3.44%
|
| 2022 | Serial | 5% | 3.55%
|
| 2023 | Serial | 5% | 3.65%
|
| 2026 | Serial | 5% | 3.95%
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Yield
|
| 2019 | Serial | 4.549% | 4.549%
|
| 2020 | Serial | 4.649% | 4.649%
|
| 2025 | Term | 5.449% | 5.449%
|
| 2030 | Term | 5.883% | 5.883%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
