By Sheri Kasprzak
New York, May 4 - The New Jersey Transportation Trust Fund revealed the details on its $600 million sale of series 2011A transportation system bonds, according to a pricing sheet.
The bonds (A1//AA) were sold on Tuesday following an accelerated retail order period.
The bonds were sold through J.P. Morgan Securities LLC, and are due 2013 to 2031 with term bonds due in 2035 and 2041.
The serial coupons range from 3% to 5.25%. The 2035 bonds have a 6% coupon priced at 110.18. The 2041 bonds have a 5.5% coupon priced at 100.434.
Proceeds will be used to fund transportation-related capital projects.
| Issuer: | New Jersey Transportation Trust Fund
|
| Issue: | Series 2011A transportation system bonds
|
| Amount: | $600 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Ratings: | Moody's: A1
|
| Fitch: AA
|
| Pricing date: | May 3
|
| Settlement date: | May 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5 million | 2013 | Serial | 3% | 103.055
|
| $4.725 million | 2013 | Serial | 5% | 107.157
|
| $5 million | 2014 | Serial | 3% | 102.891
|
| $5.11 million | 2014 | Serial | 5% | 108.854
|
| $3.05 million | 2015 | Serial | 3% | 101.814
|
| $7.465 million | 2015 | Serial | 5% | 109.541
|
| $2.495 million | 2016 | Serial | 3.25% | 101.643
|
| $8.485 million | 2016 | Serial | 5% | 109.871
|
| $5 million | 2017 | Serial | 4% | 103.944
|
| $6.485 million | 2017 | Serial | 5% | 109.424
|
| $1.92 million | 2018 | Serial | 4% | 102.544
|
| $10.09 million | 2018 | Serial | 5% | 108.755
|
| $840,000 | 2019 | Serial | 4% | 100.754
|
| $11.75 million | 2019 | Serial | 5% | 107.638
|
| $3.06 million | 2020 | Serial | 4% | 99.094
|
| $10.155 million | 2020 | Serial | 5% | 106.613
|
| $4.965 million | 2021 | Serial | 4.25% | 99.59
|
| $8.88 million | 2021 | Serial | 5% | 105.678
|
| $14.5 million | 2022 | Serial | 5% | 104.235
|
| $15.225 million | 2023 | Serial | 5% | 102.925
|
| $15.985 million | 2024 | Serial | 5.25% | 103.838
|
| $16.825 million | 2025 | Serial | 5.25% | 102.502
|
| $17.705 million | 2026 | Serial | 5% | 98.744
|
| $18.59 million | 2027 | Serial | 5% | 98.046
|
| $19.52 million | 2028 | Serial | 5.125% | 98.818
|
| $20.52 million | 2029 | Serial | 5.125% | 98.546
|
| $21.575 million | 2030 | Serial | 5.25% | 99.398
|
| $22.705 million | 2031 | Serial | 5.25% | 98.772
|
| $104.555 million | 2035 | Term | 6% | 110.18
|
| $207.82 million | 2041 | Term | 5.5% | 100.434
|
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