By Sheri Kasprzak
New York, Sept. 3 – The Metropolitan Transportation Authority sold $650 million of series 2015E variable-rate transportation revenue bonds, according to an official statement.
The deal included $100 million of series 2015E-1 bonds, $250 million of series 2015E-2 bonds, $200 million of series 2015E-3 bonds, $50 million of series 2015E-4 bonds and $50 million of series 2015E-5 bonds.
The 2015E-1 bonds are due Nov. 15, 2050 and bear interest at the daily rate. The 2015E-2 bonds are due Nov. 15, 2050 and bear interest at the weekly rate. The 2015E-3 bonds are due Nov. 15, 2050 and bear interest at the weekly rate and the 2015E-4 bonds are due Nov. 15, 2045 and bear interest at the weekly rate. The 2015E-5 bonds are due Nov. 15, 2045 and bear interest at the daily rate.
The bonds were sold on a negotiated basis with U.S. Bancorp Investments Inc. as the underwriter for the 2015E-1 and 2015E-5 bonds, Citigroup Global markets Inc. as the underwriter for the 2015E-2 and 2015E-3 bonds and Loop Capital Markets Inc. as the underwriter for the 2015E-4 bonds.
Proceeds will be used to finance commuter and transit projects.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2015E variable-rate transportation revenue bonds
|
| Amount: | $650 million
|
| Type: | Negotiated
|
| Underwriters: | U.S. Bancorp Investments Inc. (sole for 2015E-1 and 2015E-5), Citigroup Global Markets Inc. (sole for 2015E-2 and 2015E-3) and Loop Capital Markets Inc. (sole for 2015E-4)
|
| Pricing date: | Sept. 2
|
| Settlement date: | Sept. 10
|
|
|
| $100 million series 2015E-1 bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2050 | Term | Daily | 100
|
|
|
| $250 million series 2015E-2 bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2050 | Term | Weekly | 100
|
|
|
| $200 million series 2015E-3 bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2050 | Term | Weekly | 100
|
|
|
| $50 million series 2015E-4 bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2045 | Term | Weekly | 100
|
|
|
| $50 million series 2015E-5 bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2045 | Term | Daily | 100
|
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