Published on 5/30/2013 in the Prospect News Municipals Daily.
New Issue: Metropolitan Transportation Authority, N.Y., sells $500 million revenue bonds
By Sheri Kasprzak
New York, May 30 - The Metropolitan Transportation Authority of New York sold $500 million of series 2013C transportation revenue bonds, according to a pricing sheet.
The bonds (A2/A/A) were sold through J.P. Morgan Securities LLC and Loop Capital Markets LLC.
The bonds are due 2013 to 2033 with term bonds due in 2038, 2042 and 2043. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 108.124 and the 2042 bonds have a 5% coupon priced at 107.361. The 2043 bonds have a 4% coupon priced at 97.081.
Proceeds will be used to finance transit and commuter projects.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2013C transportation revenue bonds
|
| Amount: | $500 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead), BofA Merrill Lynch, Barclays, Citigroup Global Markets LLC, Goldman, Sachs & Co., Jefferies & Co., Morgan Stanley & Co. LLC, Ramirez & Co., Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC, BB&T Capital Markets Inc., CastleOak Securities LP, Duncan-Williams Inc., Edward D. Jones & Co., Fidelity Capital Markets Inc., FirstSouthwest Co., Lebenthan & Co., M.R. Beal & Co., Piper Jaffray & Co., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Stifel, Nicolaus & Co. and TD Securities (USA) LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Pricing date: | May 30
|
| Settlement date: | June 11
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $7,425,000 | 2013 | Serial | 2% | 100.786
|
| $8.11 million | 2014 | Serial | 4% | 105.267
|
| $3,215,000 | 2015 | Serial | 2% | 103.491
|
| $5.06 million | 2015 | Serial | 4% | 108.308
|
| $1,955,000 | 2016 | Serial | 3% | 107.353
|
| $6,585,000 | 2016 | Serial | 4% | 110.726
|
| $270,000 | 2017 | Serial | 3% | 107.918
|
| $8,595,000 | 2017 | Serial | 4% | 112.222
|
| $1.77 million | 2018 | Serial | 3% | 107.681
|
| $7,445,000 | 2018 | Serial | 5% | 118.063
|
| $2,545,000 | 2019 | Serial | 3% | 106.938
|
| $7,095,000 | 2019 | Serial | 5% | 119.005
|
| $3,375,000 | 2020 | Serial | 2% | 98.974
|
| $6,695,000 | 2020 | Serial | 5% | 119.467
|
| $745,000 | 2021 | Serial | 3% | 104.086
|
| $9.73 million | 2021 | Serial | 5% | 119.225
|
| $10,985,000 | 2022 | Serial | 5% | 118.571
|
| $1,775,000 | 2023 | Serial | 3% | 101.163
|
| $9,755,000 | 2023 | Serial | 5% | 119.076
|
| $12,075,000 | 2024 | Serial | 5% | 112.112
|
| $12,675,000 | 2025 | Serial | 5% | 111.521
|
| $13.31 million | 2026 | Serial | 5% | 110.738
|
| $13,975,000 | 2027 | Serial | 5% | 110.252
|
| $14,675,000 | 2028 | Serial | 5% | 109.913
|
| $15.41 million | 2029 | Serial | 5% | 109.576
|
| $16.18 million | 2030 | Serial | 5% | 109.287
|
| $16.99 million | 2031 | Serial | 5% | 110.716
|
| $17.84 million | 2032 | Serial | 5% | 110.279
|
| $18.73 million | 2033 | Serial | 4% | 99.444
|
| $107,635,000 | 2038 | Term | 5% | 108.124
|
| $107,155,000 | 2042 | Term | 5% | 107.361
|
| $30.22 million | 2043 | Term | 4% | 97.081
|
© 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.
