Published on 6/20/2014 in the Prospect News Municipals Daily.
New Issue: Metropolitan Transportation, N.Y., brings $500 million of revenue bonds
By Sheri Kasprzak
New York, June 20 – The Metropolitan Transportation Authority of New York priced $500 million of series 2014C-1 fixed-rate transportation revenue bonds, according to a pricing sheet.
The bonds were sold through senior managers Jefferies & Co. and Stern Brothers & Co.
The bonds are due 2014 to 2036 with 0.5% to 5% coupons and 0.08% to 4% yields.
Proceeds will be used to finance commuter and transit projects.
| Issuer: | Metropolitan Transportation Authority
|
| Issue: | Series 2014C-1 transportation revenue bonds
|
| Amount: | $500 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. and Stern Brothers & Co. (lead), BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, and Wells Fargo Securities LLC (co-senior managers), Barclays, BMO Capital Markets LLC, Cabrera Capital Markets LLC, CastleOak Securities LP, Duncan-Williams Inc., Estrada Hinojosa & Co. Inc., Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, KeyBanc Capital Markets Inc., Lebenthal & Co. LLC, M&T Securities Inc., Mesirow Financial Inc., Oppenheimer & Co. Inc., Piper Jaffray & Co., PNC Capital Markets LLC, Raymond James & Co., Rice Financial Products Co., Roosevelt & Cross Inc., Stifel, Nicolaus & Co., TD Securities Inc., U.S. Bancorp Investments Inc. and The Williams Capital Group LP (co-managers)
|
| Pricing date: | June 19
|
| Settlement date: | June 29
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.06 million | 2014 | Serial | 0.5% | 100.162 | 0.08%
|
| $7.98 million | 2015 | Serial | 2% | 102.49 | 0.2%
|
| $11.22 million | 2016 | Serial | 4% | 108.415 | 0.45%
|
| $18,465,000 | 2017 | Serial | 4% | 110.526 | 0.84%
|
| $29.22 million | 2018 | Serial | 5% | 116.001 | 1.24%
|
| $36.07 million | 2019 | Serial | 5% | 117.364 | 1.62%
|
| $34,525,000 | 2020 | Serial | 5% | 118.228 | 1.95%
|
| $38,285,000 | 2021 | Serial | 5% | 118.764 | 2.23%
|
| $43.5 million | 2022 | Serial | 5% | 118.638 | 2.52%
|
| $36,025,000 | 2023 | Serial | 5% | 118.681 | 2.73%
|
| $47,575,000 | 2024 | Serial | 5% | 118.812 | 2.89%
|
| $27,155,000 | 2025 | Serial | 5% | 117.243 | 3.05%
|
| $7.76 million | 2026 | Serial | 5% | 116.083 | 3.17%
|
| $18.4 million | 2027 | Serial | 5% | 115.318 | 3.25%
|
| $14.07 million | 2028 | Serial | 5% | 114.463 | 3.34%
|
| $14,775,000 | 2029 | Serial | 5% | 113.71 | 3.42%
|
| $15.51 million | 2030 | Serial | 5% | 112.963 | 3.5%
|
| $16,285,000 | 2031 | Serial | 5% | 112.315 | 3.57%
|
| $17.1 million | 2032 | Serial | 5% | 111.67 | 3.64%
|
| $17,955,000 | 2033 | Serial | 5% | 111.122 | 3.7%
|
| $23,855,000 | 2034 | Serial | 4% | 100 | 4%
|
| $18.21 million | 2035 | Serial | 5% | 110.395 | 3.78%
|
| $3 million | 2036 | Serial | 5% | 110.034 | 3.82%
|
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