Greater Cleveland Regional Transit Authority to sell $64.12 million of G.O.s on Feb. 19

By Sheri Kasprzak

New York, Feb. 15 - The Greater Cleveland Regional Transit Authority intends to price $64.12 million in general obligation bonds on Feb. 19, the issuer confirmed to Prospect News on Friday.

The FSA-insured bonds (Aa3/A) will be sold on a negotiated basis through a syndicate that includes National City Investments, KeyBanc Capital Markets and SBK-Brooks Investment Corp., according to a preliminary official statement released Friday.

The offering includes $35 million in series 2008A capital improvement and refunding bonds and $29.12 million in series 2008B refunding bonds.

The 2008A bonds have maturities from 2008 to 2027, and the 2008B bonds have maturities from 2009 to 2016.

The 2008A bonds will be used for capital improvement projects, and proceeds from the 2008B bonds will be used to refund the authority's 1998R bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.