By Sheri Kasprzak
New York, Nov. 9 - The Metropolitan Transportation Authority of New York sold $359.45 million of series 2012G variable-rate transportation revenue refunding bonds, according to an official statement.
The bonds were sold through J.P. Morgan Securities LLC.
The deal included $84.45 million of series 2012G-1 refunding bonds, $125 million of series 2012G-2 floating-rate tender notes, $75 million of series 2012G-3 floating-rate tender notes and $75 million of series 2012G-4 floating-rate tender notes.
The 2012G-1 bonds are due Nov. 1, 2014, and bear interest at 67% of one-month Libor plus 42 basis points. The 2012G-2 notes are due Nov. 1, 2015, and bear interest at 67% of one-month Libor plus 53 bps and the 2012G-3 notes are due Nov. 1, 2016, and bear interest at 67% of one-month Libor plus 70 bps. The 2012G-4 notes are due Nov. 1, 2017, and bear interest at 67% of one-month Libor plus 84 bps.
Proceeds will be used to refund existing authority debt.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2012G variable-rate transportation revenue refunding bonds
|
| Amount: | $359.45 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 13
|
|
|
| $84.45 million series 2012G-1 refunding bonds
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2014 | Term | 67% of one-month Libor plus 42 bps | 100
|
|
|
| $125 million series 2012G-2 floating-rate tender notes
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2015 | Term | 67% of one-month Libor plus 53 bps | 100
|
|
|
| $75 million series 2012G-3 floating-rate tender notes
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2016 | Term | 67% of one-month Libor plus 70 bps | 100
|
|
|
| $75 million series 2012G-4 floating-rate tender notes
|
| Maturity | Type | Coupon | Price
|
| Nov. 1, 2017 | Term | 67% of one-month Libor plus 84 bps | 100
|
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