By Sheri Kasprzak
New York, Oct. 3 - The North Texas Tollway Authority sold $134.59 million of series 2012 system revenue refunding bonds, according to a pricing sheet.
The deal included $101,775,000 of series 2012C first-tier put bonds and $32,815,000 of series 2012D first-tier current interest bonds.
The 2012C bonds are due Jan. 1, 2038 and have a 1.95% coupon priced at par. The 2012D bonds are due Jan. 1, 2038 and have a 5% coupon priced at 110.843.
The bonds (A2/A-/) were sold through J.P. Morgan Securities LLC with Ramirez & Co. Inc. and Rice Financial Products Co. as the co-managers.
Proceeds will be used to refund the authority's series 2003A revenue bonds and series 2008L-2 revenue bonds.
| Issuer: | North Texas Tollway Authority
|
| Issue: | Series 2012 system revenue refunding bonds
|
| Amount: | $134.59 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Ramirez & Co. Inc. and Rice Financial Products Co. (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Pricing date: | Oct. 3
|
| Settlement date: | Nov. 1
|
|
|
| $101,775,000 series 2012C first-tier put bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2038 | Term | 1.95% | 100
|
|
|
| $32,815,000 series 2012D first-tier current interest bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2038 | Term | 5% | 110.843
|
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