By Sheri Kasprzak
New York, Dec. 1 - The Metropolitan Transportation Authority of New York sold $500 million of series 2011D transportation revenue bonds, according to a pricing sheet.
The bonds (A2//A) were sold through Ramirez & Co. Inc. and Loop Capital Markets LLC.
The co-managers were Barclays Capital Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Jefferies & Co.; Morgan Stanley & Co. LLC; Siebert Brandford Shank & Co. LLC; Wells Fargo Securities LLC; BB&T Capital Markets Inc.; Duncan-Williams Inc.; Edward D. Jones & Co. LP; Fidelity Capital Markets LLC; First Southwest Co.; Jackson Securities Inc.; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co.; Raymond James & Associates Inc.; RBC Capital Markets LLC; Rice Financial Products Co.; Roosevelt & Cross Inc.; Stifel, Nicolaus & Co. Inc.; and TD Securities (USA) LLC.
The bonds are due 2012 to 2031 with term bonds due in 2036, 2041 and 2046. The serial coupons range from 2.5% to 5%. The 2012 bonds were not reoffered.
The 2036 bonds have a split maturity with a 4.75% coupon priced at 99.274 and a 5% coupon priced at 101.563. The 2041 bonds have a 5.25% coupon priced at 103.121. The 2046 bonds have a 4.875% coupon priced at 99.
Proceeds will be used to fund transit and commuter projects.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2011D transportation revenue bonds
|
| Amount: | $500 million
|
| Type: | Negotiated
|
| Underwriters: | Ramirez & Co. Inc. and Loop Capital Markets LLC (lead); Barclays Capital Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Jefferies & Co.; Morgan Stanley & Co. LLC; Siebert Brandford Shank & Co. LLC; Wells Fargo Securities LLC; BB&T Capital Markets Inc.; Duncan-Williams Inc.; Edward D. Jones & Co. LP; Fidelity Capital Markets LLC; First Southwest Co.; Jackson Securities Inc.; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co.; Raymond James & Associates Inc.; RBC Capital Markets LLC; Rice Financial Products Co.; Roosevelt & Cross Inc.; Stifel, Nicolaus & Co. Inc.; and TD Securities (USA) LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Fitch: A
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 7
|
|
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 2.5% | NRO
|
| 2013 | Serial | 2.5% | 103.224
|
| 2013 | Serial | 3% | 104.184
|
| 2014 | Serial | 3% | 105.36
|
| 2014 | Serial | 4% | 108.242
|
| 2015 | Serial | 4% | 109.245
|
| 2015 | Serial | 5% | 113.05
|
| 2016 | Serial | 3.5% | 107.752
|
| 2016 | Serial | 5% | 114.801
|
| 2017 | Serial | 4% | 110.437
|
| 2017 | Serial | 5% | 115.99
|
| 2018 | Serial | 3% | 103.943
|
| 2018 | Serial | 5% | 116.665
|
| 2019 | Serial | 4% | 109.531
|
| 2019 | Serial | 5% | 116.645
|
| 2020 | Serial | 4% | 108.114
|
| 2020 | Serial | 5% | 115.917
|
| 2021 | Serial | 4% | 107.115
|
| 2021 | Serial | 5% | 115.587
|
| 2022 | Serial | 4% | 105.108
|
| 2022 | Serial | 5% | 113.486
|
| 2023 | Serial | 5% | 111.874
|
| 2024 | Serial | 5% | 110.114
|
| 2025 | Serial | 5% | 108.816
|
| 2026 | Serial | 4% | 99.33
|
| 2027 | Serial | 5% | 106.443
|
| 2028 | Serial | 5% | 105.527
|
| 2029 | Serial | 5% | 104.703
|
| 2030 | Serial | 4.5% | 100
|
| 2030 | Serial | 5% | 103.968
|
| 2031 | Serial | 5% | 103.32
|
| 2036 | Term | 4.75% | 99.274
|
| 2036 | Term | 5% | 101.563
|
| 2041 | Term | 5.25% | 103.121
|
| 2046 | Term | 4.875% | 99
|
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