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3 Anos : February 2009 para February 2012
Carnegie Hall debuted in the municipal bond market Thursday and found a welcome audience for $110 million in tax-exempt bonds.
The landmark century-old New York concert hall will use the funds to refinance $41.65 million in auction-rate bonds and to contribute $68 million to a long-term renovation project, according to a release from Standard & Poor's.
The coupons on the bonds maturing in 2029 were 4.75% and 5%, priced at par, according to a bond trader. Bonds maturing in 2039 also carried 4.75% and 5% coupons but were priced to yield 4.98%. The deal saw good demand, according to the trader, who didn't participate in the offer.
Lead underwriter was Citigroup (C). Former Citi chief executive Sandy Weill is chairman of Carnegie Hall.
The bonds were issued through the Trust for Cultural Resources of the City of New York and were rated A+ by S&P and A1 by Moody's Investors Service.
-By Romy Varghese, Dow Jones Newswires; 215-656-8263; romy.varghese@dowjones.com
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