By Aaron Hochman-Zimmerman
New York, Feb. 26 - The Texas Transportation Commission priced $150 million of series 2009 first tier revenue refunding put bonds (Baa1/BBB+/BBB+), according to debt management director, Jose Hernandez.
The bonds sold at par with a 5% yield and a mandatory tender on Feb. 15, 2011.
The bonds have a final maturity in 2042.
Citigroup Global Markets Inc. acted as the lead underwriter for the negotiated deal.
Proceeds will be used to refund the series 2002B bonds.
The Texas Transportation Commission is located in Austin.
Issuer: Texas Transportation Commission
Issue: Series 2009 first tier revenue refunding put bonds
| Amount: | $150 million
|
| Maturity: | 2042
|
| Mandatory put: | Feb. 15, 2011
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5% |
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Pricing date: | Feb. 26
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
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