Utah Transit Authority coordinates $831.64 million refunding bond sale

By Sheri Kasprzak

New York, Jan. 22 – The Utah Transit Authority is set to price $831.64 million of series 2015 revenue refunding bonds, according to a preliminary official statement.

The deal includes $639.43 million of series 2015A sales tax revenue refunding bonds and $192.21 million of series 2015B subordinated sales tax revenue refunding bonds.

The bonds (Aa2) will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the senior manager and Goldman, Sachs & Co. and Wells Fargo Securities LLC as the co-managers.

The 2015A bonds are due 2020 to 2021 and 2023 to 2035 with a term bond due in 2038.

The 2015B bonds are due 2020 to 2035 with a term bond due in 2037.

Proceeds will be used to refund the authority’s series 2007A, 2008A, 2009A and 2012A revenue bonds initially issued to finance capital projects.

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