Published on 1/22/2014 in the Prospect News Municipals Daily.
New Issue: New York State Thruway Authority brings $676.48 million revenue bonds
By Sheri Kasprzak
New York, Jan. 22 - The New York State Thruway Authority sold $676,475,000 of series J general revenue bonds, according to a pricing sheet. The offering was upsized from $360.61 million.
The bonds were sold through lead managers Barclays and Siebert Brandford Shank & Co. LLC.
The bonds are due 2015 to 2036 with term bonds due in 2041 and 2044. The serial coupons range from 2% to 5%. The 2041 bonds have a 5% coupon priced at 104.199 and the 2044 bonds have a 4.625% coupon priced at 98.797.
Proceeds will be used to fund a portion of the authority's multiyear capital program.
| Issuer: | New York State Thruway Authority
|
| Issue: | Series J general revenue bonds
|
| Amount: | $676,475,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays and Siebert Brandford Shank & Co. LLC (lead), Goldman, Sachs & Co. Inc., Jefferies & Co., J.P. Morgan Securities LLC, BMO Capital Markets LLC, Fidelity Capital Markets Inc., M.R. Beal & Co., Roosevelt & Cross Inc., Southwest Securities Inc. and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Pricing date: | Jan. 22
|
| Settlement date: | Feb. 6
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.5 million | 2015 | Serial | 2% | 101.576
|
| $11.55 million | 2016 | Serial | 3% | 104.825
|
| $5 million | 2017 | Serial | 4% | 109.647
|
| $7.73 million | 2017 | Serial | 5% | 112.518
|
| $715,000 | 2018 | Serial | 3% | 107.277
|
| $12,595,000 | 2018 | Serial | 5% | 114.899
|
| $700,000 | 2019 | Serial | 4% | 112.075
|
| $13.27 million | 2019 | Serial | 5% | 116.792
|
| $3,345,000 | 2020 | Serial | 4% | 111.612
|
| $11,315,000 | 2020 | Serial | 5% | 117.169
|
| $15.29 million | 2021 | Serial | 5% | 116.931
|
| $16,075,000 | 2022 | Serial | 5% | 116.267
|
| $5 million | 2023 | Serial | 3% | 100
|
| $11.87 million | 2023 | Serial | 5% | 115.521
|
| $910,000 | 2024 | Serial | 4% | 106.829
|
| $41,105,000 | 2024 | Serial | 5% | 115.262
|
| $5.96 million | 2025 | Serial | 3.25% | 98.371
|
| $51.26 million | 2025 | Serial | 5% | 113.534
|
| $81,815,000 | 2026 | Serial | 5% | 111.925
|
| $85.9 million | 2027 | Serial | 5% | 110.693
|
| $19.52 million | 2028 | Serial | 5% | 109.649
|
| $20.53 million | 2029 | Serial | 4% | 98.889
|
| $21,365,000 | 2030 | Serial | 4% | 98.034
|
| $11,845,000 | 2031 | Serial | 4.125% | 98.5
|
| $12.44 million | 2032 | Serial | 5% | 106.673
|
| $13.06 million | 2033 | Serial | 5% | 106.173
|
| $13,715,000 | 2034 | Serial | 5% | 105.675
|
| $14.4 million | 2035 | Serial | 4.5% | 99.459
|
| $15.05 million | 2036 | Serial | 5% | 105.016
|
| $87,305,000 | 2041 | Term | 5% | 104.199
|
| $63.34 million | 2044 | Term | 4.625% | 98.797
|
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