By Sheri Kasprzak
New York, Sept. 28 - The New York State Urban Development Corp. priced $469.435 million in series 2010B service contract revenue refunding bonds, according to a pricing sheet.
The bonds priced competitively with Citigroup Global Markets Inc. winning the bid with a 1.424% true interest cost, said Warner Johnston, spokesman for the corporation.
The bonds are due 2012 to 2017 with coupons from 4% to 5%. The 2012 bonds were not reoffered.
Proceeds will be used to refund existing debt.
| Issuer: | New York State Urban Development Corp.
|
| Issue: | Series 2010B service contract revenue refunding bonds
|
| Amount: | $469.435 million
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc. (winner)
|
| True interest cost: | 1.424%
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $75.615 million | 2012 | Serial | 5% | NRO
|
| $96.55 million | 2013 | Serial | 5% | 108.949
|
| $103.475 million | 2014 | Serial | 5% | 112.204
|
| $107.325 million | 2015 | Serial | 5% | 114.674
|
| $81.805 million | 2016 | Serial | 5% | 116.253
|
| $4.665 million | 2017 | Serial | 4% | 111.673
|
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