Published on 12/4/2014 in the Prospect News Municipals Daily.
New Issue: Dasny brings to market $77.7 million NYU Hospitals Center revenue bonds
By Sheri Kasprzak
New York, Dec. 4 – The Dormitory Authority of the State of New York sold $77.7 million of series 2014 revenue bonds for the NYU Hospitals Center, according to a pricing sheet. The deal was downsized from $80 million.
The bonds are due 2017 to 2032 with a term bond due in 2036. The serial coupons range from 2% to 5% with yields from 0.97% to 3.33%. The 2036 bonds have a 5% coupon to yield 3.46%.
The bonds (A3/A-/A-) were sold through senior managers Wells Fargo Securities LLC, BofA Merrill Lynch and J.P. Morgan Securities LLC.
Proceeds will be used to advance refund the authority’s series 2007B revenue bonds issued for the center.
| Issuer: | Dormitory Authority of the State of New York/NYU Hospitals Center
|
| Issue: | Series 2014 revenue bonds
|
| Amount: | $77.7 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC, BofA Merrill Lynch and J.P. Morgan Securities LLC
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A-
|
| Fitch: A-
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 17
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $2.66 million | 2017 | Serial | 4% | 0.97%
|
| $2,765,000 | 2018 | Serial | 4% | 1.26%
|
| $2.88 million | 2019 | Serial | 2% | 1.65%
|
| $2,935,000 | 2020 | Serial | 5% | 1.91%
|
| $3,085,000 | 2021 | Serial | 5% | 2.18%
|
| $3.24 million | 2022 | Serial | 5% | 2.43%
|
| $3,405,000 | 2023 | Serial | 5% | 2.63%
|
| $3.57 million | 2024 | Serial | 3% | 2.86%
|
| $3,675,000 | 2025 | Serial | 5% | 2.91%
|
| $3,865,000 | 2026 | Serial | 5% | 3.00%
|
| $4,055,000 | 2027 | Serial | 5% | 3.10%
|
| $3.82 million | 2028 | Serial | 5% | 3.17%
|
| $3,995,000 | 2029 | Serial | 3.625% | 3.625%
|
| $4,145,000 | 2030 | Serial | 5% | 3.26%
|
| $4.36 million | 2031 | Serial | 5% | 3.30%
|
| $4,565,000 | 2032 | Serial | 5% | 3.33%
|
| $20.68 million | 2036 | Term | 5% | 3.46%
|
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