By Sheri Kasprzak
New York, July 12 - The Metropolitan Transportation Authority of New York sold $400 million of series 2011A transportation revenue bonds, according to a term sheet.
The bonds were sold on a negotiated basis with Bank of America Merrill Lynch and Loop Capital Markets LLC as the senior managers. The co-managers were Barclays Capital Inc.; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; Jefferies & Co.; Morgan Stanley & Co. Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; Wells Fargo Securities LLC; BB&T Capital Markets LLC; Duncan-Williams Inc.; Edward Jones & Co. LP; Fidelity Capital Markets LLC; FirstSouthwest Co.; Jackson Securities Inc.; M.R. Beal & Co.; 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 2036, 2037, 2038, 2041 and 2046. The serial coupons range from 2% to 5.25%. The 2036 bonds have a 5% coupon, the 2037 bonds have a 5% coupon, and the 2038 bonds have a 5.25% coupon. The 2041 bonds have a 5% coupon, and the 2046 bonds have a 5% coupon.
Proceeds will be used to fund commuter and transit projects.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2011A transportation revenue bonds
|
| Amount: | $400 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Loop Capital Markets LLC (lead); Barclays Capital Inc.; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; Jefferies & Co.; Morgan Stanley & Co. Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; Wells Fargo Securities LLC; BB&T Capital Markets LLC; Duncan-Williams Inc.; Edward Jones & Co. LP; Fidelity Capital Markets LLC; FirstSouthwest Co.; Jackson Securities Inc.; M.R. Beal & Co.; 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)
|
| Pricing date: | July 12
|
| Settlement date: | July 20
|
|
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 2%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 4%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 3%
|
| 2018 | Serial | 3%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 4%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 4%
|
| 2024 | Serial | 4%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 5%
|
| 2027 | Serial | 5%
|
| 2028 | Serial | 4.5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 5.25%
|
| 2030 | Serial | 5%
|
| 2031 | Serial | 4.75%
|
| 2036 | Term | 5%
|
| 2037 | Term | 5%
|
| 2038 | Term | 5.25%
|
| 2041 | Term | 5%
|
| 2046 | Term | 5%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
