By Sheri Kasprzak
New York, Nov. 3 - The North Texas Tollway Authority priced $640.535 million of series 2011 special projects system revenue bonds, according to a pricing sheet.
The bonds (/AA/AA-) were sold through J.P. Morgan Securities LLC with Barclays Capital Inc., Ramirez & Co. Inc., Bank of America Merrill Lynch, Jefferies & Co. and Rice Financial Products Co. as the co-managers.
The offering included $566.87 million of series 2011D tax-exempt bonds and $73.665 million of series 2011E taxable bonds.
The 2011D bonds are due 2019 to 2032 with 5% to 5.25% coupons. The 2011E bonds are due 2019 to 2023 with 3.269% to 3.869% coupons, all priced at par.
Proceeds will be used to fund the construction and development of the Chisholm Trail Parkway in Fort Worth and Cleburne.
| Issuer: | North Texas Tollway Authority
|
| Issue: | Series 2011 special projects system revenue bonds
|
| Amount: | $640.535 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Barclays Capital Inc., Ramirez & Co. Inc., Bank of America Merrill Lynch, Jefferies & Co. and Rice Financial Products Co. (co-managers)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 10
|
|
|
| $566.87 million series 2011D tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $100,000 | 2019 | Serial | 5% | 116.934
|
| $790,000 | 2020 | Serial | 5% | 116.301
|
| $780,000 | 2021 | Serial | 5% | 116.418
|
| $1.62 million | 2022 | Serial | 5% | 116.035
|
| $16.675 million | 2023 | Serial | 5% | 115.766
|
| $42.825 million | 2024 | Serial | 5% | 115.26
|
| $44.19 million | 2025 | Serial | 5.25% | 118.063
|
| $53.575 million | 2026 | Serial | 5.25% | 117.669
|
| $48.655 million | 2027 | Serial | 5.25% | 117.107
|
| $73.54 million | 2028 | Serial | 5% | 112.146
|
| $79.95 million | 2029 | Serial | 5% | 111.289
|
| $84.3 million | 2030 | Serial | 5% | 111.016
|
| $87.595 million | 2031 | Serial | 5% | 110.68
|
| $32.275 million | 2032 | Serial | 5% | 110.431
|
|
|
| $73.665 million series 2011E taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.865 million | 2019 | Serial | 3.269% | 100
|
| $15.095 million | 2020 | Serial | 3.419% | 100
|
| $14.85 million | 2021 | Serial | 3.569% | 100
|
| $30.86 million | 2022 | Serial | 3.719% | 100
|
| $10.995 million | 2023 | Serial | 3.869% | 100
|
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