By Sheri Kasprzak
New York, Jan. 7 - The New Jersey Transportation Trust Fund Authority sold $858.7 million in series 2010 transportation system capital appreciation bonds, according to a pricing sheet and a sellside source familiar with the deal.
The bonds (A1/AA/A+) were sold through Barclays Capital Corp.
The sale included $500 million in series 2010B Build America Bonds, which are due 2040 with a 6.561% coupon, priced at par. The offering also included $358.7 million in series 2010A capital appreciation bonds due 2025 through 2040 with coupons from 5.85% to 6.25%, all priced at par. The pricing sheet was not immediately available for the 2010A bonds.
Proceeds will be used to fund transportation infrastructure projects.
| Issuer: | New Jersey Transportation Trust Fund Authority
|
| Issue: | Series 2010 transportation system capital appreciation bonds
|
| Amount: | $858.7 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Corp. (lead)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA
|
| Fitch: A+
|
| Pricing date: | Jan. 7
|
|
|
| Series 2010A
|
| Maturities: | 2025 to 2040
|
| Coupons: | 5.85% to 6.25%
|
| Price: | Par
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2040 | Term | 6.561% | Par
|
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