Published on 5/12/2016 in the Prospect News Municipals Daily.
New Issue: Alameda Corridor Transportation, Calif., brings $601 million of bonds
By Sheri Kasprzak
New York, May 12 – The Alameda Corridor Transportation Authority of California sold $601,005,000 of series 2016 tax-exempt subordinate revenue refunding bonds, according to a pricing sheet. The deal was downsized from $661,795,000.
The bonds (A2/AA) were sold through BofA Merrill Lynch and Barclays.
The deal included $30.7 million of series 2016A bonds and $570,305,000 of series 2016B second subordinate lien refunding bonds.
The 2016A bonds are due 2021 to 2025 with 4% to 5% coupons and the 2016B bonds are due 2034 to 2037 with 3% to 5% coupons.
Proceeds will be used to refund the authority’s series 2004A subordinate lien revenue bonds.
| Issuer: | Alameda Corridor Transportation Authority
|
| Issue: | Series 2016 tax-exempt subordinate revenue refunding bonds
|
| Amount: | $601,005,000
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch and Barclays (lead), Citigroup Global Markets Inc., RBC Capital Markets LLC and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Ratings: | Moody’s: A2
|
| S&P: AA
|
| Pricing date: | May 11
|
| Settlement date: | May 24
|
|
|
| $30.7 million series 2016A subordinate lien refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.03 million | 2021 | Serial | 4% | 113.694
|
| $10.15 million | 2022 | Serial | 5% | 121.266
|
| $4.23 million | 2023 | Serial | 4% | 116.057
|
| $5,515,000 | 2024 | Serial | 5% | 124.361
|
| $5,775,000 | 2025 | Serial | 5% | 125.569
|
|
|
| $570,305,000 series 2016B second subordinate-lien refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $30 million | 2034 | Serial | 3% | 98.468
|
| $102,905,000 | 2034 | Serial | 5% | 119.55
|
| $25 million | 2035 | Serial | 4% | 108.746
|
| $25 million | 2035 | Serial | 5% | 120.548
|
| $89.05 million | 2035 | Serial | 5% | 119.055
|
| $25 million | 2036 | Serial | 3.125% | 98.882
|
| $25 million | 2036 | Serial | 5% | 120.148
|
| $95.75 million | 2036 | Serial | 5% | 118.661
|
| $35 million | 2037 | Serial | 4% | 108.191
|
| $15 million | 2037 | Serial | 5% | 119.948
|
| $102.6 million | 2037 | Serial | 5% | 118.464
|
|
|
|
|
© 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.
