By Sheri Kasprzak
New York, Oct. 20 - The Massachusetts Bay Transportation Authority sold $258.14 million of series 2009 senior sales tax bonds on Tuesday, said a term sheet.
The sale included $218.3 million of series 2009C Build America Bonds and $39.84 million of series 2009D bonds.
The bonds (Aa2/AAA/) were sold through Goldman, Sachs & Co. and Barclays Capital Inc. The co-managers were J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and Ramirez & Co. Inc.
The 2009C bonds are due 2020 to 2024, with a term bond due 2039. The serial 2009C bonds have coupons from 4.753% to 5.033% and all priced at par. The 2039 bonds have a 5.569% coupon and priced at par.
The 2009D bonds are due 2014 to 2019 with coupons from 3% to 5%.
Proceeds will be used to pay capital costs and fund a debt service reserve fund.
| Issuer: | Massachusetts Bay Transportation Authority
|
| Issue: | Series 2009 senior sales tax bonds
|
| Amount: | $258.14 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Barclays Capital Inc. (lead), J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and Ramirez & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AAA
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 29
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 4.753% | Par
|
| 2021 | Serial | 4.823% | Par
|
| 2022 | Serial | 4.893% | Par
|
| 2023 | Serial | 4.963% | Par
|
| 2024 | Serial | 5.033% | Par
|
| 2039 | Term | 5.569% | Par
|
|
|
| Series 2009D
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 3% | 103.983
|
| 2015 | Serial | 4% | 107.884
|
| 2016 | Serial | 4% | 107.316
|
| 2017 | Serial | 5% | 113.245
|
| 2018 | Serial | 5% | 113.290
|
| 2019 | Serial | 5% | 113.531
|
© 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.
