By Sheri Kasprzak
New York, March 1 - The Tri-County Metropolitan Transportation District of Oregon priced $325 million of series 2013 payroll tax and grant receipt revenue bonds, according to a pricing sheet.
The bonds (Aa3/A+/) were sold through Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC.
The bonds are due 2016 to 2019 with 3% to 5% coupons.
Proceeds will be used to construct a pedestrian and bicycle bridge between the cities of Portland and Milwaukie.
| Issuer: | Tri-County Metropolitan Transportation District of Oregon
|
| Issue: | Series 2013 payroll tax and grant receipt revenue bonds
|
| Amount: | $325 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC (lead)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $90 million | 2016 | Serial | 3% | 105.25
|
| $90 million | 2017 | Serial | 4% | 109.999
|
| $40 million | 2018 | Serial | 3% | 107.601
|
| $50 million | 2018 | Serial | 5% | 116.44
|
| $55 million | 2019 | Serial | 3% | 108.181
|
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