New York State Environmental preps $475.09 million revenue green bonds

By Sheri Kasprzak

New York, July 21 – The New York State Environmental Facilities Corp. is expected to price $475.09 million of series 2015 state revolving fund revenue green bonds, according to a preliminary official statement.

The deal includes $80,945,000 of series 2015B tax-exempt bonds, $30,455,000 of series 2015C taxable bonds and $363.7 million of series 2015D tax-exempt bonds.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Loop Capital Markets LLC. The co-managers are Academy Securities Inc., Alamo Capital, Baird & Co., BofA Merrill Lynch, BMO Capital Markets, BNY Mellon Capital Markets LLC, CastleOak Securities LP, Estrada Hinojosa & Co. Inc., Goldman, Sachs & Co., Janney Montgomery Scott LLC, Jefferies & Co., J.P. Morgan Securities LLC, KeyBanc Capital Markets, Mesirow Financial Inc., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, The Williams Capital Group LP and Wells Fargo Bank, NA.

The 2015B bonds are due 2016 to 2028 with term bonds due in 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2040 and 2045. The 2015C bonds are due 2016 to 2025 with a term bond due in 2030. The 2015D bonds are due 2016 to 2028 with term bonds due in 2029, 2030, 2031, 2032, 2033, 2034, 2035 and 2040.

Proceeds will be used to finance or refinance clean and drinking water projects and refund existing bonds issued to provide assistance to eligible recipients for such projects.

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