By Sheri Kasprzak
New York, June 6 – The Washington Metropolitan Area Transit Authority of D.C. sold $220 million of series 2016A gross revenue transit bonds, according to an official statement.
The bonds (A2/AA-/) were sold through senior managers BofA Merrill Lynch and Siebert Brandford Shank & Co. LLC.
The bonds are due 2017 to 2019 with 4% to 5% coupons and yields from 0.83% to 1.11%.
Proceeds will be used to finance transit projects.
| Issuer: | Washington Metropolitan Area Transit Authority
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| Issue: | Series 2016A gross revenue transit bonds
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| Amount: | $220 million
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| Type: | Negotiated
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| Underwriters: | BofA Merrill Lynch and Siebert Brandford Shank & Co. LLC (lead), Piper Jaffray & Co., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC (co-managers)
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| Ratings: | Moody’s: A2
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| S&P: AA-
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| Pricing date: | May 25
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| Settlement date: | June 8
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $50 million | 2017 | Serial | 4% | 103.35 | 0.83%
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| $85 million | 2018 | Serial | 5% | 108.107 | 1.02%
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| $85 million | 2019 | Serial | 4% | 105.88 | 1.11%
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