Published on 12/15/2015 in the Prospect News Municipals Daily.
New Issue: New York Transportation Development sells $167.26 million revenue bonds
By Sheri Kasprzak
New York, Dec. 15 – The New York Transportation Development Corp. sold $167.26 million of series 2015 special facility revenue refunding bonds, according to a pricing sheet.
The bonds (Baa1) were sold through senior managers Citigroup Global Markets Inc. and Ramirez & Co. Inc.
The bonds are due 2017 to 2023 with 5% coupons and yields from 0.95% to 2.35%.
Proceeds will be used to refund existing debt issued for a loan to Terminal One Group.
| Issuer: | New York Transportation Development Corp.
|
| Issue: | Series 2015 special facility revenue refunding bonds
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| Amount: | $167.26 million
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| Type: | Negotiated
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| Underwriters: | Citigroup Global Markets Inc. and Ramirez & Co. Inc.
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| Rating: | Moody’s: Baa1
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 23
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $20.39 million | 2017 | Serial | 5% | 104.11 | 0.95%
|
| $21.59 million | 2018 | Serial | 5% | 107.319 | 1.32%
|
| $22,675,000 | 2019 | Serial | 5% | 109.991 | 1.60%
|
| $23,805,000 | 2020 | Serial | 5% | 112.155 | 1.85%
|
| $24,995,000 | 2021 | Serial | 5% | 114.112 | 2.03%
|
| $26,245,000 | 2022 | Serial | 5% | 115.711 | 2.20%
|
| $27.56 million | 2023 | Serial | 5% | 117.061 | 2.35%
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