By Sheri Kasprzak
New York, Nov. 15 - The Texas Transportation Commission sold $813.18 million of series 2012 Central Texas Turnpike System revenue refunding bonds, according to a pricing sheet.
The bonds (//BBB+) were sold through J.P. Morgan Securities LLC.
The bonds are due in 2038, 2041 and 2042. The 2038 bonds have a 4% coupon priced at par. The 2041 bonds have a 5% coupon priced at 111.127 and the 2042 bonds have a 1.25% coupon and were not reoffered.
Proceeds will be used to finance capital improvements to the turnpike system.
| Issuer: | Texas Transportation Commission
|
| Issue: | Series 2012 Central Texas Turnpike System revenue refunding bonds
|
| Amount: | $813.18 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Ratings: | Fitch: BBB+
|
| Pricing date: | Nov. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $123.75 million | 2038 | Term | 4% | 100
|
| $464.43 million | 2041 | Term | 5% | 111.127
|
| $225 million | 2042 | Term | 1.25% | NRO
|
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