By Sheri Kasprzak
New York, April 14 – The Metropolitan Transit Authority of Harris County, Texas, sold $124,635,000 of series 2016 sales and use tax bonds and contractual obligations, according to a pricing sheet.
The deal included $92.27 million of series 2016A refunding bonds and $32,365,000 of series 2016B contractual obligations.
The 2016A bonds are due 2021 to 2029 with 5% coupons and yields from 1.21% to 2.19%. The 2016B obligations are due 2020 to 2033 with 3.5% to 5% coupons and yields from 1.1% to 2.46%.
The bonds (Aa2/AA+) were sold through Cabrera Capital Markets LLC.
Proceeds will be used to refund the authority’s series 2009A sales and use tax bonds, series 2011A sales and use tax bonds and series 2009B contractual obligations.
| Issuer: | Metropolitan Transit Authority of Harris County
|
| Issue: | Series 2016 sales and use tax bonds and contractual obligations
|
| Amount: | $124,635,000
|
| Type: | Negotiated
|
| Underwriters: | Cabrera Capital Markets LLC (lead), Citigroup Global Markets Inc. and Crews & Associates (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA+
|
| Pricing date: | April 14
|
| Settlement date: | April 27
|
|
|
| $92.27 million series 2016A refunding bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| 2021 | Serial | 5% | 120.146 | 1.21%
|
| 2022 | Serial | 5% | 122.398 | 1.39%
|
| 2023 | Serial | 5% | 124.452 | 1.54%
|
| 2024 | Serial | 5% | 126.136 | 1.69%
|
| 2025 | Serial | 5% | 127.656 | 1.82%
|
| 2026 | Serial | 5% | 128.859 | 1.95%
|
| 2027 | Serial | 5% | 127.658 | 2.06%
|
| 2028 | Serial | 5% | 126.9 | 2.13%
|
| 2029 | Serial | 5% | 126.255 | 2.19%
|
|
|
| $32,365,000 series 2016B contractual obligations
|
| Maturity | Type | Coupon | Price | Yield
|
| 2020 | Serial | 5% | 117.117 | 1.10%
|
| 2021 | Serial | 5% | 120.146 | 1.21%
|
| 2023 | Serial | 5% | 124.452 | 1.54%
|
| 2024 | Serial | 5% | 126.136 | 1.69%
|
| 2025 | Serial | 5% | 127.656 | 1.82%
|
| 2026 | Serial | 5% | 128.859 | 1.95%
|
| 2027 | Serial | 5% | 127.658 | 2.06%
|
| 2028 | Serial | 5% | 126.9 | 2.13%
|
| 2029 | Serial | 5% | 126.255 | 2.19%
|
| 2030 | Serial | 3.5% | 109.193 | 2.50%
|
| 2031 | Serial | 5% | 124.659 | 2.34%
|
| 2032 | Serial | 5% | 124.027 | 2.40%
|
| 2033 | Serial | 5% | 123.399 | 2.46%
|
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