Published on 6/23/2016 in the Prospect News Municipals Daily.
New Issue: Metropolitan Transportation, N.Y., sells $673.74 million revenue bonds
By Sheri Kasprzak
New York, June 23 – The Metropolitan Transportation Authority of New York sold $673.74 million of series 2016B transportation revenue refunding bonds, according to a pricing sheet. The deal was upsized from $500 million.
The bonds were sold through bookrunners Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC.
The bonds are due 2018 to 2037 with 2.125% to 5% coupons.
Proceeds will be used to refund the authority’s series 2007A, 2008A and 2008B revenue bonds.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2016B transportation revenue refunding bonds
|
| Amount: | $673.74 million
|
| Type: | Negotiated
|
| Underwriters; | Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC (bookrunners), Academy Securities Inc., Stern Brothers Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Jefferies & Co., Morgan Stanley & Co. LLC, Loop Capital Markets LLC, Ramirez & Co. Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC, Barclays, BNY Mellon Capital Markets LLC, Cabrera Capital Markets LLC, Drexel Hamilton LLC, Duncan-Williams Inc., Estrada Hinojosa & Co. Inc., Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, KeyBanc Capital Markets Inc., M&T Securities Inc., Mesirow Financial Inc., Oppenheimer & Co. Inc., Piper Jaffray & Co., PNC Capital Markets LLC, Raymond James/Morgan Keegan, Rice Financial Products Co., Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc. and Williams Capital Group LP (co-managers)
|
| Pricing date: | June 22
|
| Settlement date: | June 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $19.27 million | 2018 | Serial | 3% | 105.092
|
| $18.6 million | 2019 | Serial | 5% | 113.419
|
| $1.55 million | 2020 | Serial | 4% | 112.398
|
| $19.27 million | 2020 | Serial | 5% | 116.659
|
| $1.39 million | 2021 | Serial | 3% | 109.232
|
| $20,455,000 | 2021 | Serial | 5% | 119.606
|
| $2.34 million | 2022 | Serial | 4% | 116.134
|
| $20,575,000 | 2022 | Serial | 5% | 122.222
|
| $990,000 | 2023 | Serial | 4% | 117.391
|
| $23,045,000 | 2023 | Serial | 5% | 124.348
|
| $1,045,000 | 2024 | Serial | 4% | 118.654
|
| $24,185,000 | 2024 | Serial | 5% | 126.459
|
| $5,195,000 | 2025 | Serial | 4% | 119.566
|
| $21.28 million | 2025 | Serial | 5% | 128.185
|
| $6,245,000 | 2026 | Serial | 4% | 120.21
|
| $21,505,000 | 2026 | Serial | 5% | 129.61
|
| $29,075,000 | 2027 | Serial | 5% | 128.304
|
| $11.06 million | 2028 | Serial | 5% | 127.656
|
| $14,605,000 | 2029 | Serial | 5% | 127.013
|
| $7.5 million | 2030 | Serial | 5% | 126.586
|
| $6,545,000 | 2031 | Serial | 2.125% | 100
|
| $1,855,000 | 2031 | Serial | 5% | 125.95
|
| $20.46 million | 2032 | Serial | 2.125% | 100
|
| $2,175,000 | 2032 | Serial | 5% | 125.422
|
| $21.48 million | 2033 | Serial | 2.25% | 100
|
| $15.71 million | 2033 | Serial | 5% | 124.897
|
| $18.06 million | 2034 | Serial | 4% | 112.753
|
| $20.4 million | 2034 | Serial | 5% | 124.374
|
| $46.57 million | 2035 | Serial | 5% | 123.958
|
| $98 million | 2036 | Serial | 4% | 111.98
|
| $152.06 million | 2037 | Serial | 5% | 123.233
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
