By Sheri Kasprzak
New York, June 17 - The Dormitory Authority of the State of New York priced $141.245 million in series 2008 school district revenue bonds, said an official statement.
The sale includes $111.09 million in series 2008A bonds and $30.155 million in series 2008B bonds.
The 2008A bonds are due 2009 to 2028 with a term bond due 2035. The serial bonds have coupons from 3% to 5.25% with yields from 2.08% to 4.62%. The term bond has a 5% coupon with a 4.64% yield.
The 2008B bonds are due 2009 to 2028 with a term bond due 2036. The serial bonds have 3% to 5% coupons with 1.8% to 4.53% yields. The term bond has a 5% coupon to yield 4.64%.
The bonds (Aaa/AAA/AAA) were sold on a negotiated basis with Depfa First Albany as the senior manager for the 2008A bonds and as sole manager for the 2008B bonds. The co-managers on the series 2008A bonds are Citigroup Global Markets, David Lerner Associates, Janney Montgomery Scott and Siebert Brandford Shank & Co.
Proceeds will be used for school district capital facilities, school district capital equipment and the refinancing of bond anticipation notes.
| Issuer: | Dormitory Authority of the State of New York
|
| Issue: | Series 2008 school district revenue bonds
|
| Amount: | $141.245 million
|
| Type: | Negotiated
|
| Underwriters: | Depfa First Albany (lead for 2008A, sole for 2008B); Citigroup Global Markets; David Lerner Associates; Janney Montgomery Scott; and Siebert Brandford Shank & Co.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | June 11
|
|
|
| Series 2008A bonds
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3% | 2.08%
|
| 2010 | Serial | 3% | 2.42%
|
| 2011 | Serial | 4% | 2.78%
|
| 2012 | Serial | 4% | 2.99%
|
| 2013 | Serial | 5% | 3.14%
|
| 2014 | Serial | 5% | 3.30%
|
| 2015 | Serial | 5% | 3.45%
|
| 2016 | Serial | 5.25% | 3.60%
|
| 2017 | Serial | 5.25% | 3.74%
|
| 2018 | Serial | 5.25% | 3.86%
|
| 2019 | Serial | 5% | 3.97%
|
| 2020 | Serial | 5% | 4.07%
|
| 2021 | Serial | 5% | 4.15%
|
| 2022 | Serial | 5% | 4.21%
|
| 2023 | Serial | 5% | 4.25%
|
| 2024 | Serial | 4.25% | 4.43%
|
| 2025 | Serial | 4.375% | 4.48%
|
| 2026 | Serial | 4.375% | 4.53%
|
| 2027 | Serial | 4.375% | 4.57%
|
| 2028 | Serial | 4.5% | 4.62%
|
| 2035 | Term | 5% | 4.64%
|
|
|
| Series 2008B
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3% | 1.80%
|
| 2010 | Serial | 3% | 2.38%
|
| 2011 | Serial | 3% | 2.77%
|
| 2012 | Serial | 3.5% | 3.01%
|
| 2013 | Serial | 3.25% | 3.16%
|
| 2014 | Serial | 3.75% | 3.32%
|
| 2015 | Serial | 5% | 3.48%
|
| 2016 | Serial | 5% | 3.63%
|
| 2017 | Serial | 5% | 3.77%
|
| 2018 | Serial | 5% | 3.89%
|
| 2019 | Serial | 5% | 4.00%
|
| 2020 | Serial | 4.1% | 4.22%
|
| 2021 | Serial | 4.125% | 4.29%
|
| 2022 | Serial | 4.25% | 4.36%
|
| 2023 | Serial | 5% | 4.29%
|
| 2024 | Serial | 5% | 4.34%
|
| 2025 | Serial | 5% | 4.40%
|
| 2026 | Serial | 5% | 4.45%
|
| 2027 | Serial | 5% | 4.49%
|
| 2028 | Serial | 5% | 4.53%
|
| 2036 | Term | 5% | 4.64%
|
© 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.
