Published on 10/5/2011 in the Prospect News Municipals Daily.
New Issue: Oklahoma Turnpike Authority brings $524.01 million of refunding revenue bonds
By Sheri Kasprzak
New York, Oct. 5 - The Oklahoma Turnpike Authority priced $524.01 million of series 2011A Oklahoma turnpike system refunding second senior revenue bonds, said a pricing sheet.
The bonds (Aa3/AA-/AA-) were sold through senior manager RBC Capital Markets LLC. The co-managers were BOSC Inc., Morgan Stanley & Co. LLC, Edward D. Jones & Co. LP, Fidelity Capital Markets LLC and Bank of America Merrill Lynch.
The bonds are due 2012 to 2028 with 0.2% to 5%.
Proceeds will be used to refund the authority's series 2006C, 2006E and 2006F revenue bonds.
| Issuer: | Oklahoma Turnpike Authority
|
| Issue: | Series 2011A Oklahoma turnpike system refunding second senior revenue bonds
|
| Amount: | $524.01 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC (lead), BOSC Inc., Morgan Stanley & Co. LLC, Edward D. Jones & Co. LP, Fidelity Capital Markets LLC and Bank of America Merrill Lynch (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 13
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.855 million | 2012 | Serial | 0.2% | 100
|
| $24.735 million | 2013 | Serial | 2% | 101.968
|
| $5.67 million | 2014 | Serial | 1% | 100.614
|
| $19.995 million | 2014 | Serial | 5% | 109.394
|
| $2.695 million | 2015 | Serial | 1% | 100
|
| $375,000 | 2015 | Serial | 3% | 106.314
|
| $31.505 million | 2015 | Serial | 5% | 112.629
|
| $1.81 million | 2016 | Serial | 1.5% | 100.694
|
| $34.315 million | 2016 | Serial | 5% | 114.998
|
| $1.135 million | 2017 | Serial | 2% | 101.791
|
| $37.285 million | 2017 | Serial | 5% | 116.731
|
| $1.595 million | 2018 | Serial | 2% | 100.231
|
| $4.645 million | 2018 | Serial | 4% | 111.882
|
| $31.58 million | 2018 | Serial | 5% | 117.708
|
| $2.165 million | 2019 | Serial | 2.5% | 101.454
|
| $10 million | 2019 | Serial | 3% | 104.764
|
| $28.05 million | 2019 | Serial | 5% | 118.001
|
| $1.135 million | 2020 | Serial | 2.625% | 100.55
|
| $40.79 million | 2020 | Serial | 5% | 118.054
|
| $995,000 | 2021 | Serial | 2.75% | 100.24
|
| $8.87 million | 2021 | Serial | 4% | 110.369
|
| $31.43 million | 2021 | Serial | 5% | 118.472
|
| $900,000 | 2022 | Serial | 2.875% | 100.037
|
| $39.085 million | 2022 | Serial | 5% | 117.138
|
| $4.77 million | 2023 | Serial | 3% | 99.619
|
| $19.505 million | 2023 | Serial | 5% | 115.647
|
| $705,000 | 2024 | Serial | 3.25% | 100.393
|
| $24.175 million | 2024 | Serial | 5% | 114.264
|
| $615,000 | 2025 | Serial | 3.375% | 100.035
|
| $25.735 million | 2025 | Serial | 5% | 112.816
|
| $1.9 million | 2026 | Serial | 3.5% | 100.152
|
| $25.57 million | 2026 | Serial | 5% | 111.891
|
| $1.525 million | 2027 | Serial | 3.625% | 100.346
|
| $1.5 million | 2027 | Serial | 3.4% | 97.898
|
| $25.59 million | 2027 | Serial | 5% | 111.058
|
| $4.175 million | 2028 | Serial | 3.7% | 100.15
|
| $25.63 million | 2028 | Serial | 5% | 110.233
|
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