By Sheri Kasprzak
New York, Sept. 24 - The New York City Housing Development Corp. priced $72.39 million in series 2009 revenue and refunding bonds on Thursday, according to a term sheet.
The bonds (Aa2/AA/) were sold on a negotiated basis with J.P. Morgan Securities Inc. as the senior manager.
The sale included series 2009F bonds and series 2009J bonds.
The 2009F bonds are due 2012 to 2019 with term bonds due 2024, 2029, 2034 and 2041. The serials have coupons from 1.95% to 3.55%. The 2024 bonds have a 4.25% coupon, the 2029 bonds have a 4.6% coupon, the 2034 bonds have a 4.75% coupon and the 2041 bonds have a 4.85% coupon, all priced at par.
The 2009J bonds are due 2010 to 2019 with term bonds due 2024, 2029 and 2036. The serials have coupons from 0.7% to 3.55%, all priced at par. The 2024 bonds have a 4.25% coupon, the 2029 bonds have a 4.6% coupon and the 2036 bonds have a 4.8% coupon, all priced at par.
Proceeds will be used to fund mortgage loans and to refund existing debt.
Issuer: | New York City Housing Development Corp.
|
Issue: | Series 2009 revenue and refunding bonds
|
Amount: | $72.39 million
|
Type: | Negotiated
|
Underwriter: | J.P. Morgan Securities Inc. (lead)
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
Pricing date: | Sept. 24
|
Settlement date: | Sept. 30
|
|
Series 2009F bonds
|
Maturity | Type | Coupon | Price
|
2012 | Serial | 1.95% | Par
|
2013 | Serial | 2% | Par
|
2014 | Serial | 2.25% | Par
|
2015 | Serial | 2.6% | Par
|
2016 | Serial | 2.9% | Par
|
2017 | Serial | 3.1% | Par
|
2018 | Serial | 3.3% | Par
|
2019 | Serial | 3.55% | Par
|
2024 | Term | 4.25% | Par
|
2029 | Term | 4.6% | Par
|
2034 | Term | 4.75% | Par
|
2041 | Term | 4.85% | Par
|
|
Series 2009J bonds
|
Maturity | Type | Coupon | Price
|
2010 | Serial | 0.7% | Par
|
2010 | Serial | 0.9% | Par
|
2011 | Serial | 1.05% | Par
|
2011 | Serial | 1.15% | Par
|
2012 | Serial | 1.65% | Par
|
2012 | Serial | 1.7% | Par
|
2013 | Serial | 1.9% | Par
|
2013 | Serial | 2% | Par
|
2014 | Serial | 2.2% | Par
|
2014 | Serial | 2.25% | Par
|
2015 | Serial | 2.6% | Par
|
2015 | Serial | 2.6% | Par
|
2016 | Serial | 2.9% | Par
|
2016 | Serial | 2.9% | Par
|
2017 | Serial | 3.1% | Par
|
2017 | Serial | 3.1% | Par
|
2018 | Serial | 3.3% | Par
|
2018 | Serial | 3.3% | Par
|
2019 | Serial | 3.55% | Par
|
2019 | Serial | 3.55% | Par
|
2024 | Term | 4.25% | Par
|
2029 | Term | 4.6% | Par
|
2036 | Term | 4.8% | Par
|
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