Published on 12/12/2013 in the Prospect News Municipals Daily.
New Issue: New York State Thruway offers up $1.6 billion of revenue obligations
By Sheri Kasprzak
New York, Dec. 12 - The New York State Thruway Authority priced $1.6 billion of series 2013A general revenue junior indebtedness obligations, according to a pricing sheet.
The bonds (A3/A-/) were sold through lead managers Citigroup Global Markets Inc. and Loop Capital Markets LLC.
The bonds are due in 2019 with a 3% coupon priced at 104.029 to yield 2.2%, a 4% coupon priced at 109.066 to yield 2.2%, a 5% coupon priced at 115.199 to yield 2% and a 5% coupon priced at 114.104 to yield 2.2%.
Proceeds will be used to fund the construction of a new New York bridge project.
| Issuer: | New York State Thruway Authority
|
| Issue: | Series 2013A general revenue junior indebtedness obligations
|
| Amount: | $1.6 billion
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Loop Capital Markets LLC (lead), BofA Merrill Lynch; Morgan Stanley & Co. LLC; RBC Capital Markets LLC; Wells Fargo Securities LLC; M.R. Beal & Co. LLC; CastleOak Securities LP; Goldman, Sachs & Co.; Janney Montgomery Scott LLC; Ramirez & Co. Inc.; and Roosevelt & Cross Inc. (co-managers)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 18
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $12,655,000 | 2019 | Term | 3% | 104.029 | 2.2%
|
| $23 million | 2019 | Term | 4% | 109.066 | 2.2%
|
| $45,675,000 | 2019 | Term | 5% | 115.199 | 2%
|
| $1,518,670,000 | 2019 | Term | 5% | 114.104 | 2.2%
|
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