Published on 8/27/2012 in the Prospect News Municipals Daily.
New Issue: Tri-County Metropolitan Transportation District, Ore., prices $93.29 million of revenue bonds
By Sheri Kasprzak
New York, Aug. 27 - The Tri-County Metropolitan Transportation District of Oregon sold $93.29 million of series 2012A senior-lien payroll tax revenue bonds, according to a pricing sheet.
The bonds (Aa1/AAA/) were sold through senior managers Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC.
The bonds are due 2013 to 2032 with a term bond due in 2037. The serial coupons range from 1% to 5% with yields from 0.28% to 2.83%. The 2037 bonds have a 5% coupon to yield 3.12%.
Proceeds will be used to pay for or reimburse the Tri-County Metropolitan Transportation District for transportation projects.
Issuer: | Tri-County Metropolitan Transportation District, Ore.
|
Issue: | Series 2012A senior-lien payroll tax revenue bonds
|
Amount: | $93.29 million
|
Type: | Negotiated
|
Underwriters: | Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
Pricing date: | Aug. 21
|
Settlement date: | Aug. 30
|
|
Amount | Maturity | Type | Coupon | Yield
|
$2.05 million | 2013 | Serial | 1% | 0.28%
|
$2.09 million | 2014 | Serial | 3% | 0.35%
|
$2,165,000 | 2015 | Serial | 4% | 0.46%
|
$2,265,000 | 2016 | Serial | 5% | 0.59%
|
$2.38 million | 2017 | Serial | 5% | 0.79%
|
$2,605,000 | 2018 | Serial | 4% | 1.10%
|
$2,725,000 | 2019 | Serial | 5% | 1.40%
|
$2,725,000 | 2020 | Serial | 4% | 1.67%
|
$2.85 million | 2021 | Serial | 5% | 1.89%
|
$3 million | 2022 | Serial | 5% | 2.04%
|
$3.15 million | 2023 | Serial | 5% | 2.19%
|
$3,315,000 | 2024 | Serial | 5% | 2.30%
|
$3,485,000 | 2025 | Serial | 5% | 2.38%
|
$3.66 million | 2026 | Serial | 5% | 2.45%
|
$3.85 million | 2027 | Serial | 5% | 2.52%
|
$4,045,000 | 2028 | Serial | 5% | 2.60%
|
$4,255,000 | 2029 | Serial | 5% | 2.67%
|
$4,475,000 | 2030 | Serial | 5% | 2.73%
|
$4.7 million | 2031 | Serial | 5% | 2.77%
|
$4,945,000 | 2032 | Serial | 5% | 2.83%
|
$28.79 million | 2037 | Term | 5% | 3.12%
|
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