By Sheri Kasprzak
New York, July 3 - The Metropolitan Transit Authority of Harris County in Texas priced $62.255 million in series 2008 lease revenue certificates of participation on June 26, according to an official statement released Thursday.
The certificates (Aaa/AAA/) are due from 2009 to 2020 with coupons from 3% to 5.5% and yields from 2.37% to 4.7%.
Rice Financial Products and RBC Capital Markets were the lead managers for the negotiated sale.
Proceeds will be used for equipment purchases for the authority, including the purchase of diesel-electric hybrid buses.
| Issuer: | Metropolitan Transit Authority of Harris County (Texas)
|
| Issue: | Series 2008 lease revenue certificates of participation
|
| Amount: | $62.255 million
|
| Type: | Negotiated
|
| Underwriters: | Rice Financial Products and RBC Capital Markets
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | June 26
|
| Settlement date: | July 15
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 4% | 2.37%
|
| 2010 | Serial | 3% | 3.10%
|
| 2011 | Serial | 5% | 3.47%
|
| 2012 | Serial | 3.625% | 3.69%
|
| 2013 | Serial | 3.75% | 3.84%
|
| 2013 | Serial | 5% | 3.84%
|
| 2014 | Serial | 5% | 3.98%
|
| 2015 | Serial | 4% | 4.12%
|
| 2016 | Serial | 4% | 4.25%
|
| 2016 | Serial | 4.125% | 4.25%
|
| 2017 | Serial | 5.5% | 4.35%
|
| 2018 | Serial | 4.25% | 4.52%
|
| 2019 | Serial | 5% | 4.60%
|
| 2020 | Serial | 4.375% | 4.70%
|
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