Published on 11/8/2012 in the Prospect News Municipals Daily.
New Issue: Dallas Area Rapid Transit prices $128.02 million revenue bonds
By Sheri Kasprzak
New York, Nov. 8 - The Dallas Area Rapid Transit of Texas priced $128,015,000 of series 2012 senior lien sales tax revenue bonds, according to a term sheet.
The bonds (Aa2/AA+/) were sold through Loop Capital Markets LLC.
The bonds are due 2013 to 2037 with a term bond due in 2042. The serial coupons range from 1% to 5%. The 2042 bonds have a 5% coupon priced at 117.327.
Proceeds will be used to refund commercial paper notes.
| Issuer: | Dallas Area Rapid Transit
|
| Issue: | Series 2012 senior-lien sales tax revenue bonds
|
| Amount: | $128,015,000
|
| Type: | Negotiated
|
| Underwriters: | Loop Capital Markets LLC (lead), M.R. Beal & Co., Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.11 million | 2013 | Serial | 1% | 100.803
|
| $2.17 million | 2014 | Serial | 3% | 105.372
|
| $2.25 million | 2015 | Serial | 4% | 110.529
|
| $2.34 million | 2016 | Serial | 4% | 113.393
|
| $2.41 million | 2017 | Serial | 2% | 105.87
|
| $2.5 million | 2018 | Serial | 5% | 123.735
|
| $2,625,000 | 2019 | Serial | 5% | 125.902
|
| $2.75 million | 2020 | Serial | 4% | 119.631
|
| $2,845,000 | 2021 | Serial | 3% | 111.121
|
| $2.96 million | 2022 | Serial | 5% | 128.54
|
| $3,115,000 | 2023 | Serial | 5% | 127.071
|
| $3,275,000 | 2024 | Serial | 5% | 126.034
|
| $3.44 million | 2025 | Serial | 5% | 125.007
|
| $3.62 million | 2026 | Serial | 5% | 124.294
|
| $3,805,000 | 2027 | Serial | 5% | 123.686
|
| $4 million | 2028 | Serial | 5% | 123.082
|
| $4,205,000 | 2029 | Serial | 5% | 122.482
|
| $4.42 million | 2030 | Serial | 5% | 121.984
|
| $4,645,000 | 2031 | Serial | 5% | 121.39
|
| $4,835,000 | 2032 | Serial | 3% | 99.253
|
| $5,035,000 | 2033 | Serial | 5% | 120.017
|
| $5.29 million | 2034 | Serial | 5% | 119.53
|
| $5.56 million | 2035 | Serial | 5% | 118.759
|
| $5.85 million | 2036 | Serial | 5% | 118.088
|
| $6.15 million | 2037 | Serial | 5% | 117.707
|
| $35.81 million | 2042 | Term | 5% | 117.327
|
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