By Aaron Hochman-Zimmerman
New York, Aug. 19 - The Texas Transportation Commission priced $1.748 billion series 2009 Build America Bonds at par to yield 5.367% and 5.517%, according to a market source.
The bonds due 2029 priced to yield 5.367%, while the bonds due 2037 priced to yield 5.517%.
Merrill Lynch & Co. Inc. acted as lead underwriter for the negotiated deal which was upsized from $1.112 billion. Estrada Hinojosa & Co., First Southwest Co., Jefferies & Co., J.P. Morgan Securities Inc., Loop Capital Markets LLC, Morgan Stanley & Co. Inc., Piper Jaffray & Co., Southwest Securities Inc. and Wachovia Bank N.A. were co-managers.
Proceeds will be used to construct, acquire, improve and expand state highways.
The Texas Transportation Commission is located in Austin, Texas.
| Issuer: | Texas Transportation Commission
|
| Issue: | Series 2009 Build America Bonds
|
| Amount: | $1.748 billion
|
| Underwriter: | Merrill Lynch & Co. Inc. (lead); Estrada Hinojosa & Co., First Southwest Co., Jefferies & Co., J.P. Morgan Securities Inc., Loop Capital Markets LLC, Morgan Stanley & Co. Inc., Piper Jaffray & Co., Southwest Securities Inc., Wachovia Bank N.A. (co-managers)
|
| Type: | Negotiated
|
| Pricing date: | Aug. 19
|
|
|
| Bonds due 2029
|
| Maturity: | 2029
|
| Coupon: | 5.367%
|
| Price: | Par
|
| Yield: | 5.367%
|
|
|
| Bonds due 2037
|
| Maturity: | 2037
|
| Coupon: | 5.517%
|
| Price: | Par
|
| Yield: | 5.517%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
