By Sheri Kasprzak
New York, Aug. 23 - The New Jersey Turnpike Authority sold $809.95 million of series 2012B turnpike revenue bonds, according to a pricing sheet.
The bonds (A2/A+/A) are due 2019 to 2030 with 3.5% to 5% coupons. The full pricing details were unavailable by press time Thursday.
The bonds were sold through lead managers Citigroup Global Markets Inc. and Goldman, Sachs & Co. The co-managers were Barclays and RBC Capital Markets LLC.
Proceeds will be used to refund the authority's series 1991C-D, 2003A and 2009C-E revenue bonds.
| Issuer: | New Jersey Turnpike Authority
|
| Issue: | Series 2012B turnpike revenue bonds
|
| Amount: | $809.95 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Goldman, Sachs & Co. (lead), Barclays Capital Inc. and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: A
|
| Pricing date: | Aug. 23
|
| Settlement date: | Sept. 20
|
|
|
| Maturity | Type | Coupon
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 5%
|
| 2027 | Serial | 5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 5%
|
| 2030 | Serial | 3.5%
|
| 2030 | Serial | 5%
|
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