Dallas Area Rapid Transit to sell $829 million sales tax revenue bonds

By Sheri Kasprzak

New York, Sept. 24 - The Dallas Area Rapid Transit plans to sell $829 million of series 2010 senior-lien sales tax revenue bonds on Tuesday, said a sales calendar.

The bonds (Aa2/AA+/) will be sold on a negotiated basis with Bank of America Merrill Lynch as the senior manager. The co-managers are Loop Capital Markets LLC, M.R. Beal & Co. Inc., Siebert Brandford Shank & Co. LLC, RBC Capital Markets Corp. and Southwest Securities Inc.

Proceeds will be used to finance improvements to commuter projects and other infrastructure projects in the city.

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