By Sheri Kasprzak
New York, Dec. 21 - The Metropolitan Transportation Authority of New York sold $750 million of series 2010E transportation revenue bonds on Tuesday, upsized from $350 million, according to a pricing sheet.
The bonds (A2/A+/A+) were sold through Barclays Capital Inc. and Wells Fargo Securities LLC.
The co-managers included Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Jefferies & Co. Inc.; Morgan Stanley & Co. Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; BB&T Capital Markets; Duncan-Williams/Oppenheimer & Co. Inc.; Edward Jones & Co. Inc.; FirstSouthwest Co.; Fidelity Capital Markets LLC; Jackson Securities Inc.; Loop Capital Markets LLC; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co. Inc.; Raymond James & Associates Inc.; RBC Capital Markets Corp.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Stifel, Nicolaus & Co. Inc.; and TD Securities (USA) LLC.
The bonds are due Nov. 15, 2030, and Nov. 15, 2040. The 2030 bonds have a split maturity with a 6.734% coupon and 7.134% coupon, both priced at par. The 2040 bonds have a 6.814% coupon priced at par.
Proceeds will be used to finance commuter and transit projects.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2010E transportation revenue bonds
|
| Amount: | $750 million, increased from $350 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. and Wells Fargo Securities LLC (lead); Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Jefferies & Co. Inc.; Morgan Stanley & Co. Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; BB&T Capital Markets; Duncan-Williams/Oppenheimer & Co. Inc.; Edward Jones & Co. Inc.; FirstSouthwest Co.; Fidelity Capital Markets LLC; Jackson Securities Inc.; Loop Capital Markets LLC; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co. Inc.; Raymond James & Associates Inc.; RBC Capital Markets Corp.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Stifel, Nicolaus & Co. Inc.; and TD Securities (USA) LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 29
|
|
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2030 | Term | 6.734% | 100
|
| Nov. 15, 2030 | Term | 7.134% | 100
|
| Nov. 15, 2040 | Term | 6.814% | 100
|
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