Published on 9/9/2011 in the Prospect News Municipals Daily.
New Issue: New York State Thruway Authority brings $351.9 million of PITs
By Sheri Kasprzak
New York, Sept. 9 - The New York State Thruway Authority priced $351.895 million of series 2011A state personal income tax revenue bonds, said a pricing sheet.
The bonds were sold through Siebert Brandford Shank & Co. LLC. The co-managers were Barclays Capital Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, M.R. Beal & Co., Jackson Securities Inc., Morgan Keegan & Co. Inc., Morgan Stanley & Co. LLC, Raymond James & Associates Inc. and Roosevelt & Cross Inc.
The bonds are due 2012 to 2026 with 1.5% to 5% coupons and 0.15% to 3.28% yields.
Proceeds will be used to make grants to reimburse municipalities and other project sponsors for highway, bridge and multimodal projects.
| Issuer: | New York State Thruway Authority
|
| Issue: | Series 2011A state personal income tax revenue bonds
|
| Amount: | $351.895 million
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. LLC (lead), Barclays Capital Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, M.R. Beal & Co., Jackson Securities Inc., Morgan Keegan & Co. Inc., Morgan Stanley & Co. LLC, Raymond James & Associates Inc. and Roosevelt & Cross Inc. (co-managers)
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 14
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $17.525 million | 2012 | Serial | 1.5% | 0.15%
|
| $17.79 million | 2013 | Serial | 3% | 0.30%
|
| $2.785 million | 2014 | Serial | 3% | 0.47%
|
| $15.54 million | 2014 | Serial | 4% | 0.47%
|
| $1.75 million | 2015 | Serial | 3% | 0.69%
|
| $17.275 million | 2015 | Serial | 5% | 0.69%
|
| $5.865 million | 2016 | Serial | 4% | 1.06%
|
| $14.08 million | 2016 | Serial | 5% | 1.06%
|
| $13.19 million | 2017 | Serial | 4% | 1.35%
|
| $7.69 million | 2017 | Serial | 5% | 1.35%
|
| $5.355 million | 2018 | Serial | 4% | 1.67%
|
| $16.44 million | 2018 | Serial | 5% | 1.67%
|
| $1.275 million | 2019 | Serial | 4% | 1.97%
|
| $21.555 million | 2019 | Serial | 5% | 1.97%
|
| $6 million | 2020 | Serial | 4% | 2.22%
|
| $17.96 million | 2020 | Serial | 5% | 2.22%
|
| $10.6 million | 2021 | Serial | 4% | 2.41%
|
| $14.495 million | 2021 | Serial | 5% | 2.41%
|
| $7.015 million | 2022 | Serial | 4% | 2.62%
|
| $19.23 million | 2022 | Serial | 5% | 2.62%
|
| $27.49 million | 2023 | Serial | 5% | 2.85%
|
| $28.865 million | 2024 | Serial | 5% | 3.03%
|
| $30.305 million | 2025 | Serial | 5% | 3.18%
|
| $31.82 million | 2026 | Serial | 5% | 3.28%
|
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