By Sheri Kasprzak
New York, April 14 - The North Texas Tollway Authority sold $1.2 billion of series 2011 revenue bonds and taxable bond anticipation notes, said a pricing sheet. The offering was upsized from $1,028,781,540.90.
The exact breakdown of the two tranches was unavailable Thursday evening.
The 2011 special projects revenue bonds are due 2014 to 2018, 2020 to 2021, 2023 to 2026, 2028 to 2031 with term bonds due in 2036 and 2041. The serial coupons range from 4% to 5.5%. The 2036 bonds have a 5.5% coupon, and the 2041 bonds have a split maturity with a 5.5% coupon and a 6% coupon.
The BANs are due Sept. 1, 2013 and have a 2.441% coupon priced at par.
Citigroup Global Markets Inc. was the senior manager. The co-managers were Barclays Capital Inc., Estrada Hinojosa & Co. Inc., Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Morgan Stanley & Co. Inc. and Ramirez & Co. Inc.
Proceeds will be used to make an upfront payment to the Texas Department of Transportation for the authority's right to own and operate an 11.5-mile toll stretch of State Highway 161 in western Dallas County extending from State Highway 183 to Interstate 20.
| Issuer: | North Texas Tollway Authority
|
| Issue: | Series 2011 revenue bonds and taxable bond anticipation notes
|
| Amount: | $1.2 billion
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Barclays Capital Inc., Estrada Hinojosa & Co. Inc., Loop Capital Markets LLC, Morgan Keegan & Co. Inc., Morgan Stanley & Co. Inc. and Ramirez & Co. Inc. (co-managers)
|
| Pricing date: | April 14
|
| Settlement date: | April 28
|
|
|
| Series 2011 special projects revenue bonds
|
| Maturity | Type | Coupon
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 4%
|
| 2016 | Serial | 4%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 4%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 4%
|
| 2021 | Serial | 5%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 5%
|
| 2028 | Serial | 5.5%
|
| 2029 | Serial | 5.25%
|
| 2030 | Serial | 5%
|
| 2031 | Serial | 5%
|
| 2036 | Term | 5.5%
|
| 2041 | Term | 5.5%
|
| 2041 | Term | 6%
|
|
|
| Series 2011 taxable bond anticipation notes
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2013 | Term | 2.441% | 100
|
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