Published on 11/8/2012 in the Prospect News Municipals Daily.
New Issue: Metropolitan Transportation, N.Y., sells $350 million revenue bonds
By Sheri Kasprzak
New York, Nov. 8 - The Metropolitan Transportation Authority of New York sold $350 million of series 2012H transportation revenue bonds, according to a term sheet.
The bonds were sold through Siebert Brandford Shank & Co. LLC, Duncan-Williams Inc. and Rice Financial Products Co.
The bonds are due 2013 to 2034 with term bonds due in 2037 and 2042. The serial coupons range from 2% to 5%. The 2037 bonds have a 3.625% coupon priced at par, and the 2042 bonds have a 5% coupon priced at 113.922.
Proceeds will be used to finance transit and commuter projects for the authority.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2012H transportation revenue bonds
|
| Amount: | $350 million
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. LLC, Duncan-Williams Inc. and Rice Financial Products Co. (lead), Bank of America Merrill Lynch, Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Jefferies & Co., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Wells Fargo Securities LLC, BB&T Capital Markets LLC, Edward D. Jones & Co. LP, Fidelity Capital Markets LLC, First Southwest Co., Loop Capital Markets LLC, M.R. Beal & Co. Inc., Piper Jaffray & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc. and TD Securities (USA) LLC (co-managers)
|
| Pricing date: | Nov. 8
|
| Settlement date: | Nov. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,955,000 | 2013 | Serial | 2% | NRO
|
| $3,025,000 | 2014 | Serial | 4% | 106.956
|
| $3.05 million | 2014 | Serial | 5% | 108.944
|
| $2.81 million | 2015 | Serial | 4% | 109.717
|
| $3.54 million | 2015 | Serial | 5% | 112.679
|
| $6.64 million | 2016 | Serial | 4% | 112.068
|
| $6,905,000 | 2017 | Serial | 5% | 118.762
|
| $2.1 million | 2018 | Serial | 3% | 109.358
|
| $5.15 million | 2018 | Serial | 5% | 120.84
|
| $4.26 million | 2019 | Serial | 3% | 108.821
|
| $3.31 million | 2019 | Serial | 5% | 121.986
|
| $2.73 million | 2020 | Serial | 3% | 108.128
|
| $5,135,000 | 2020 | Serial | 5% | 122.906
|
| $8,205,000 | 2021 | Serial | 4% | 115.153
|
| $8.53 million | 2022 | Serial | 4% | 114.82
|
| $5.05 million | 2023 | Serial | 4% | 113.199
|
| $3.82 million | 2023 | Serial | 5% | 121.999
|
| $9,265,000 | 2024 | Serial | 5% | 121.014
|
| $9.73 million | 2025 | Serial | 5% | 120.233
|
| $10,215,000 | 2026 | Serial | 5% | 119.554
|
| $10,725,000 | 2027 | Serial | 5% | 118.976
|
| $11.26 million | 2028 | Serial | 3% | 99.37
|
| $11.6 million | 2029 | Serial | 5% | 117.831
|
| $12.18 million | 2030 | Serial | 5% | 117.357
|
| $12.79 million | 2031 | Serial | 5% | 116.886
|
| $13.43 million | 2032 | Serial | 3.25% | 99.417
|
| $13,865,000 | 2033 | Serial | 5% | 115.671
|
| $14,555,000 | 2034 | Serial | 4% | 105.05
|
| $47,085,000 | 2037 | Term | 3.625% | 100
|
| $93,085,000 | 2042 | Term | 5% | 113.922
|
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