By Aaron Hochman-Zimmerman
New York, July 17 - The Dormitory Authority of the State of New York priced $140.8 million series 2009 revenue bonds (Aa3/AA/) for Yeshiva University on Wednesday, according to authority spokesman Marc Violette.
The bonds were priced as one series with two maturities.
The series maturing on Sept. 1, 2016 carries a coupon of 3½% and was priced at 102.66 to yield 3.08%.
The series maturing on Sept. 1, 2038 carries a coupon of 5% and was priced at 97.022 to yield 5.18%.
J.P. Morgan Securities Inc. and Morgan Stanley & Co. were co-lead underwriters for the negotiated deal. Citigroup Global Markets Inc., Lebenthal & Co. LLC and Merrill Lynch Banc of America Securities LLC were co-managers.
Proceeds will be used to refund the university's series 1998 bonds.
The Dormitory Authority of the State of New York is located in Albany.
Issuer: Dormitory Authority of the State of New York/Yeshiva University
Issue: Series 2009 revenue bonds
| Amount: | $140.8 million
|
| Underwriters: | J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. (lead), Citigroup Global Markets Inc., Lebenthal & Co. LLC, Merrill Lynch Banc of America Securities LLC (co-managers)
|
| Type: | Negotiated
|
| Pricing date: | July 15
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
|
|
| Seven-year bonds
|
| Maturity: | Sept. 1, 2016
|
| Coupon: | 3½%
|
| Price: | 102.66
|
| Yield: | 3.08%
|
|
|
| 29-year bonds
|
| Maturity: | Sept. 1, 2038
|
| Coupon: | 5%
|
| Price: | 97.022
|
| Yield: | 5.18%
|
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