Published on 4/15/2015 in the Prospect News Municipals Daily.
New Issue: Metropolitan Atlanta Rapid Transit details $87.02 million bond sale
By Sheri Kasprzak
New York, April 15 – The Metropolitan Atlanta Rapid Transit Authority released additional information on its $87,015,000 of series 2015A sales tax revenue bonds.
The bonds (/AA+/AA-) were sold competitively with J.P. Morgan Securities LLC winning the bid at a 4.079% true interest cost.
The bonds are due 2041 to 2045 with 5% coupons and yields from 3.15% to 3.19%.
Proceeds will be used to finance capital projects to enhance life safety and maintain the system.
| Issuer: | Metropolitan Atlanta Rapid Transit Authority
|
| Issue: | Series 2015A sales tax revenue bonds
|
| Amount: | $87,015,000
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| True interest cost: | 4.079%
|
| Ratings: | Standard & Poor’s: AA+
|
| Fitch: AA-
|
| Pricing date: | April 14
|
| Settlement date: | April 29
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $20 million | 2041 | Serial | 5% | 115.99 | 3.15%
|
| $20 million | 2042 | Serial | 5% | 115.896 | 3.16%
|
| $15 million | 2043 | Serial | 5% | 115.801 | 3.17%
|
| $15 million | 2044 | Serial | 5% | 115.707 | 3.18%
|
| $17,015,000 | 2045 | Serial | 5% | 115.613 | 3.19%
|
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