New Issue: Utah Transit brings $295.52 million of revenue and refunding bonds

By Sheri Kasprzak

New York, Nov. 7 - The Utah Transit Authority sold $295.52 million of series 2012 subordinate sales tax revenue and refunding bonds, according to a pricing sheet.

The bonds (A1/A-/A+) were sold through Morgan Stanley & Co. LLC and Bank of America Merrill Lynch.

The bonds are due 2015 to 2017 and 2021 to 2032 with term bonds due in 2039 and 2042. The serial coupons range from 4% to 5%. The 2039 bonds have a 4% coupon priced at 101.828 and the 2042 bonds have a 5% coupon priced at 112.515.

Proceeds will be used to refund the authority's series 2011A-B revenue bonds.

Issuer:	Utah Transit Authority
Issue:	Series 2012 subordinate sales tax revenue and refunding bonds
Amount:	$295.52 million
Type:	Negotiated
Underwriters:	Morgan Stanley & Co. LLC and Bank of America Merrill Lynch (lead)
Ratings:	Moody's: A1
	Standard & Poor's: A-
	Fitch: A+
Pricing date:	Nov. 7
Settlement date:	Nov. 28
Amount	Maturity	Type	Coupon	Price
$3,245,000	2015	Serial	4%	108.44
$5,275,000	2016	Serial	4%	111.206
$4,245,000	2017	Serial	5%	117.786
$2.84 million	2021	Serial	5%	122.844
$2,985,000	2022	Serial	5%	122.927
$3.14 million	2023	Serial	5%	121.399
$3.3 million	2024	Serial	5%	120.361
$3.47 million	2025	Serial	5%	119.613
$3,545,000	2026	Serial	5%	118.593
$3,665,000	2027	Serial	5%	118.042
$3.85 million	2028	Serial	5%	117.493
$4.05 million	2029	Serial	5%	116.947
$4,255,000	2030	Serial	5%	116.404
$4,475,000	2031	Serial	5%	115.865
$4,705,000	2032	Serial	5%	115.328
$73.6 million	2039	Term	4%	101.828
$164,875,000	2042	Term	5%	112.515

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