Published on 4/11/2013 in the Prospect News Municipals Daily.
New Issue: Triborough Bridge, N.Y., prices $200 million of 2013C revenue bonds
By Sheri Kasprzak
New York, April 11 - The Triborough Bridge and Tunnel Authority of New York priced $200 million of series 2013C general revenue bonds, according to a pricing sheet.
The bonds (Aa3/AA-/AA-) were sold through Ramirez & Co. Inc. and Duncan-Williams Inc.
The bonds are due 2014 to 2033 with term bonds due in 2038 and 2043. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 114.652 and the 2043 bonds have a 3.75% coupon priced at 99.098.
Proceeds will be used to finance bridge and tunnel projects.
| Issuer: | Triborough Bridge and Tunnel Authority
|
| Issue: | Series 2013C general revenue bonds
|
| Amount: | $200 million
|
| Type: | Negotiated
|
| Underwriters: | Ramirez & Co. Inc. and Duncan-Williams Inc. (lead), Siebert Brandford Shank & Co., LLC, CastleOak Securities, LP, Lebenthal & Co., LLC, Loop Capital Markets LLC, M.R. Beal & Co. and Rice Financial Products Co. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | April 11
|
| Settlement date: | April 18
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.39 million | 2014 | Serial | 2% | 102.669
|
| $3.46 million | 2015 | Serial | 3% | 106.653
|
| $3.56 million | 2016 | Serial | 3% | 108.438
|
| $3.67 million | 2017 | Serial | 4% | 114.443
|
| $3,815,000 | 2018 | Serial | 4% | 116.404
|
| $3.97 million | 2019 | Serial | 4% | 117.581
|
| $4,125,000 | 2020 | Serial | 4% | 118.072
|
| $4.29 million | 2021 | Serial | 5% | 126.135
|
| $4,505,000 | 2022 | Serial | 5% | 126.52
|
| $4.73 million | 2023 | Serial | 5% | 126.208
|
| $4.97 million | 2024 | Serial | 5% | 124.461
|
| $5,215,000 | 2025 | Serial | 5% | 122.742
|
| $5,475,000 | 2026 | Serial | 5% | 121.545
|
| $5.75 million | 2027 | Serial | 5% | 120.461
|
| $6.04 million | 2028 | Serial | 5% | 119.582
|
| $6.34 million | 2029 | Serial | 5% | 118.904
|
| $6.66 million | 2030 | Serial | 5% | 118.327
|
| $6.99 million | 2031 | Serial | 5% | 117.848
|
| $7.34 million | 2032 | Serial | 5% | 117.371
|
| $7,705,000 | 2033 | Serial | 5% | 116.897
|
| $83 million | 2038 | Term | 5% | 114.652
|
| $15 million | 2043 | Term | 3.75% | 99.098
|
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