Published on 3/9/2012 in the Prospect News Municipals Daily.
New Issue: New York State Thruway sells $235.48 million highway service contract bonds
By Sheri Kasprzak
New York, March 9 - The New York State Thruway Authority priced $235.48 million of series 2012A local and state highway service contract bonds, according to a term sheet.
The bonds (/AA/AA-) were sold through Wells Fargo Securities LLC and Jackson Securities Inc. The co-managers were Barclays Capital Inc., Jefferies & Co. and RBC Capital Markets LLC.
The bonds are due 2013 to 2016 with 2% to 5% coupons.
Proceeds will be used to refund the authority's series 2002 service contract bonds.
| Issuer: | New York State Thruway Authority
|
| Issue: | Series 2012A local and state highway service contract bonds
|
| Amount: | $235.48 million
|
| Type: | Negotiated
|
| Underwriters | Wells Fargo Securities LLC and Jackson Securities Inc. (lead), Barclays Capital Inc., Jefferies & Co. and RBC Capital markets LLC (co-managers)
|
| Ratings: | Standard & Poor's AA
|
| Fitch: AA-
|
| Pricing date: | March 8
|
| Settlement date: | March 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $92,485,000 | 2013 | Serial | 2% | 101.898
|
| $71.85 million | 2014 | Serial | 4% | 107.194
|
| $200,000 | 2015 | Serial | 3% | 106.915
|
| $55,015,000 | 2015 | Serial | 4% | 109.922
|
| $15.93 million | 2016 | Serial | 5% | 116.247
|
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