By Sheri Kasprzak
New York, April 28 – The Texas Private Activity Bond Surface Transportation Corp. sold $271.3 million of series 2016 tax-exempt senior lien revenue bonds for the Blueridge Transportation Group LLC, according to a pricing sheet.
The bonds (Baa3/BBB-/) were sold through Citigroup Global Markets Inc. and Barclays.
The bonds are due 2040, 2045, 2050 and 2055. The 2040 bonds have a 5% coupon priced at 110.971, the 2045 bonds have a 5% coupon priced at 110.286, and the 2050 bonds have a 5% coupon priced at 109.353. The 2055 bonds have a 5% coupon priced at 108.513.
Proceeds will be used to construct toll lanes and related facilities along U.S. Highway 288 from U.S. Route 59 to the Harris County line at Clear Creek.
| Issuer: | Texas Private Activity Bond Surface Transportation Corp./Blueridge Transportation Group LLC
|
| Issue: | Series 2016 tax-exempt senior lien revenue bonds
|
| Amount: | $271.3 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Barclays
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB-
|
| Pricing date: | April 27
|
| Settlement date: | May 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $43,565,000 | 2040 | Term | 5% | 110.971
|
| $58,095,000 | 2045 | Term | 5% | 110.286
|
| $74.38 million | 2050 | Term | 5% | 109.353
|
| $95.26 million | 2055 | Term | 5% | 108.513
|
|
|
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