Published on 12/3/2014 in the Prospect News Municipals Daily.
New Issue: New York Thruway sells $715.67 million revenue refunding debt
By Sheri Kasprzak
New York, Dec. 3 – The New York State Thruway Authority sold $715,665,000 of series K general revenue refunding bonds, according to a pricing sheet. The deal was downsized from $750 million.
The bonds (A2/A/) were sold through Goldman Sachs & Co. and Ramirez & Co. Inc.
The bonds are due 2019 to 2032 with 3% to 5% coupons.
Proceeds will be used to refund existing debt.
| Issuer: | New York State Thruway Authority
|
| Issue: | Series K general revenue refunding bonds
|
| Amount: | $715,665,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. and Ramirez & Co. Inc. (lead), Citigroup Global Markets Inc., Wells Fargo Securities LLC, CastleOak Securities LP, Janney Montgomery Scott LLC, Loop Capital Markets LLC and TD Securities (USA) Inc. (co-managers)
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,105,000 | 2019 | Serial | 3% | 107.198
|
| $5.13 million | 2020 | Serial | 4% | 112.347
|
| $19,975,000 | 2020 | Serial | 5% | 117.189
|
| $4.06 million | 2021 | Serial | 4% | 112.962
|
| $22.36 million | 2021 | Serial | 5% | 118.673
|
| $5,335,000 | 2022 | Serial | 4% | 112.93
|
| $22,395,000 | 2022 | Serial | 5% | 119.46
|
| $755,000 | 2023 | Serial | 4% | 112.802
|
| $28.37 million | 2023 | Serial | 5% | 120.118
|
| $3.52 million | 2024 | Serial | 4% | 112.844
|
| $27.06 million | 2024 | Serial | 5% | 120.922
|
| $18.99 million | 2025 | Serial | 5% | 121.281
|
| $19.93 million | 2026 | Serial | 5% | 119.425
|
| $20.93 million | 2027 | Serial | 5% | 118.462
|
| $90.15 million | 2028 | Serial | 5% | 117.414
|
| $5,055,000 | 2029 | Serial | 3.25% | 100
|
| $92,265,000 | 2029 | Serial | 5% | 116.564
|
| $102.17 million | 2030 | Serial | 5% | 116.095
|
| $96.84 million | 2031 | Serial | 5% | 115.628
|
| $25 million | 2032 | Serial | 3.5% | 99.744
|
| $100.27 million | 2032 | Serial | 5% | 115.349
|
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