American Natural History Museum, N.Y., to sell $152.16 million of debt

By Sheri Kasprzak

New York, May 19 - The Trust for Cultural Resources of the City of New York plans to price $152.16 million of series 2014 refunding revenue bonds for the American Natural History Museum, according to a preliminary official statement. Pricing is expected for Tuesday.

The offering includes $51.91 million of series 2014A fixed-rate bonds, $50,405,000 of series 2014B-1 flexible-rate bonds and $49,845,000 of series 2014B-2 flexible-rate bonds.

The bonds (Aa3/VMIG 1/AA/A-1+/) will be sold on a negotiated basis. The underwriters for the 2014A bonds are Morgan Stanley & Co. LLC, BofA Merrill Lynch, J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC. The underwriters for the 2014B-1 bonds are Wells Fargo and Morgan Stanley. The underwriter for the 2014B-2 bonds is Morgan Stanley.

The 2014A bonds are due 2031 to 2034 with term bonds due in 2037 and 2041. The 2014B-1 and 2014B-2 bonds are due April 1, 2044.

Proceeds will be used to refund existing debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.