By Sheri Kasprzak
New York, June 29 - The Tobacco Settlement Financing Corp. of New York came to market Wednesday with its $959.195 million sale of series 2011 asset-backed revenue bonds, said a pricing sheet.
The bonds (AA-/AA-) were sold through Barclays Capital Inc. and Citigroup Global Markets Inc. The co-managers were M.R. Beal & Co.; Goldman, Sachs & Co.; Bank of America Merrill Lynch; Jefferies & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Morgan Stanley & Co. Inc.; Morgan Keegan & Co. Inc.; RBC Capital Markets LLC; Roosevelt & Cross Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; and Wells Fargo Securities LLC.
The bonds are due 2013 to 2018 with 2% to 5% coupons.
Proceeds will be used to refund the corporation's series 2003A-1C and 2003B-1C bonds.
| Issuer: | Tobacco Settlement Finance Corp.
|
| Issue: | Series 2011 asset-backed revenue bonds
|
| Amount: | $959.195 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. and Citigroup Global Markets Inc. (lead); M.R. Beal & Co.; Goldman, Sachs & Co.; Bank of America Merrill Lynch; Jefferies & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Morgan Stanley & Co. Inc.; Morgan Keegan & Co. Inc.; RBC Capital Markets LLC; Roosevelt & Cross Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | June 29
|
| Settlement date: | July 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $15.405 million | 2013 | Serial | 2% | 102.01
|
| $34.595 million | 2013 | Serial | 4% | 105.767
|
| $81.595 million | 2013 | Serial | 4% | 105.767
|
| $15.065 million | 2014 | Serial | 3% | 104.472
|
| $36.535 million | 2014 | Serial | 5% | 110.134
|
| $85 million | 2014 | Serial | 5% | 110.134
|
| $14.96 million | 2015 | Serial | 3% | 104.46
|
| $39.04 million | 2015 | Serial | 5% | 111.958
|
| $89 million | 2015 | Serial | 5% | 111.958
|
| $19.555 million | 2016 | Serial | 3% | 104.406
|
| $58.445 million | 2016 | Serial | 5% | 113.684
|
| $94 million | 2016 | Serial | 5% | 113.684
|
| $5.62 million | 2017 | Serial | 4% | 108.694
|
| $75.38 million | 2017 | Serial | 5% | 114.162
|
| $98 million | 2017 | Serial | 5% | 114.162
|
| $9.06 million | 2018 | Serial | 4% | 107.805
|
| $91.94 million | 2018 | Serial | 5% | 114.05
|
| $96 million | 2018 | Serial | 5% | 114.05
|
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