Published on 11/23/2010 in the Prospect News Municipals Daily.
New Issue: Metropolitan Transportation Authority, N.Y., prices $755 million transportation bonds
By Sheri Kasprzak
New York, Nov. 23 - The Metropolitan Transportation Authority of New York City priced $755 million of series 2010D transportation revenue bonds (A2/A/A+), according to a pricing sheet.
Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the senior managers. The co-lead managers were Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC. Co-managers included Barclays Capital Inc., Bank of America Merrill Lynch, Jefferies & Co. Inc., Loop Capital Markets LLC, Morgan Stanley & Co. Inc., M.R. Beal & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets Corp., Roosevelt & Cross Inc. and Wells Fargo Securities LLC.
The bonds are due 2011 to 2030 with term bonds due 2034 and 2040. Serial coupons range from 1.5% to 5.25%. The 2034 bonds have a split maturity with a 5% coupon and a 5.25% coupon. The 2040 bonds have a 5.25% coupon. The full pricing data for the sale was unavailable Tuesday evening.
Proceeds will be used to pay holders of the authority's transportation revenue notes CP-1.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Serial 2010D transportation revenue bonds
|
| Amount: | $755 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead), Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC (co-lead), Barclays Capital Inc., Bank of America Merrill Lynch, Jefferies & Co. Inc., Loop Capital Markets LLC, Morgan Stanley & Co. Inc., M.R. Beal & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets Corp., Roosevelt & Cross Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Pricing date: | Nov. 23
|
| Settlement date: | Dec. 7
|
|
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 1.5%
|
| 2012 | Serial | 2%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 2%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 3%
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 3%
|
| 2015 | Serial | 4%
|
| 2016 | Serial | 4%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 4%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 4%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 4%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 4.125%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 4.375%
|
| 2023 | Serial | 5.25%
|
| 2024 | Serial | 4.5%
|
| 2024 | Serial | 5%
|
| 2024 | Serial | 5.25%
|
| 2025 | Serial | 4.5%
|
| 2025 | Serial | 5%
|
| 2025 | Serial | 5.25%
|
| 2026 | Serial | 4.5%
|
| 2026 | Serial | 5.25%
|
| 2026 | Serial | 5%
|
| 2027 | Serial | 5.25%
|
| 2028 | Serial | 5.25%
|
| 2029 | Serial | 5.25%
|
| 2030 | Serial | 5.25%
|
| 2034 | Term | 5%
|
| 2034 | Term | 5.25%
|
| 2040 | Term | 5.25%
|
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