By Sheri Kasprzak
New York, March 16 - The Metropolitan Transportation Authority of New York City priced $261.7 million in series 2009A dedicated tax fund bonds on March 12, according to an official statement.
The bonds were sold through lead managers Citigroup Global Markets Inc. and Siebert Brandford Shank & Co.
The co-managers are J.P. Morgan Securities Inc.; Barclays Capital Inc.; Banc of America Securities LLC; Depfa First Albany Securities LLC; Loop Capital Markets LLC; Merrill Lynch & Co. Inc.; Morgan Stanley & Co.; M.R. Beal & Co.; Ramirez & Co. Inc.; Raymond James & Associates Inc.; RBC Capital Markets Corp.; Roosevelt & Cross Inc.; and Wachovia Bank.
The serial bonds are due 2010 to 2030 with term bonds due 2039 and 2039. The serials have coupons from 2% to 5.5% and yields from 1.37% to 5.57%. The 2039 bonds have a 5.625% coupon to yield 5.7%, and the other 2039 bonds have a 5.5% coupon to yield 5.7%.
Proceeds will be used for capital project costs, capitalized interest on outstanding bonds, a deposit to a reserve account and the termination of an interest-rate swap agreement with Wachovia Bank and the Bank of Montreal.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2009A dedicated tax fund bonds
|
| Amount: | $261.7 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. (leads); J.P. Morgan Securities Inc.; Barclays Capital Inc.; Banc of America Securities LLC; Depfa First Albany Securities LLC; Loop Capital Markets LLC; Merrill Lynch & Co. Inc.; Morgan Stanley & Co.; M.R. Beal & Co.; Ramirez & Co. Inc.; Raymond James & Associates Inc.; RBC Capital Markets Corp.; Roosevelt & Cross Inc.; and Wachovia Bank
|
| Pricing date: | March 12
|
| Settlement date: | March 19
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 2% | 1.37%
|
| 2011 | Serial | 3% | 2.07%
|
| 2012 | Serial | 3% | 2.45%
|
| 2013 | Serial | 3% | 2.96%
|
| 2014 | Serial | 3.3% | 3.45%
|
| 2015 | Serial | 3.5% | 3.71%
|
| 2016 | Serial | 4% | 4.00%
|
| 2017 | Serial | 5% | 4.22%
|
| 2018 | Serial | 5% | 4.44%
|
| 2019 | Serial | 5% | 4.65%
|
| 2020 | Serial | 5% | 4.89%
|
| 2021 | Serial | 5% | 5.02%
|
| 2022 | Serial | 5% | 5.12%
|
| 2023 | Serial | 5.1% | 5.22%
|
| 2024 | Serial | 5.125% | 5.30%
|
| 2025 | Serial | 5.25% | 5.35%
|
| 2026 | Serial | 5.3% | 5.40%
|
| 2027 | Serial | 5.375% | 5.44%
|
| 2028 | Serial | 5.5% | 5.48%
|
| 2028 | Serial | 5.25% | 5.48%
|
| 2029 | Serial | 5.5% | 5.51%
|
| 2029 | Serial | 5.375% | 5.51%
|
| 2030 | Serial | 5.5% | 5.57%
|
| 2039 | Term | 5.625% | 5.70%
|
| 2039 | Term | 5.5% | 5.70%
|
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