By Sheri Kasprzak
New York, May 9 - The San Joaquin Transportation Authority in California priced $210 million in bonds Wednesday, said Steven Dial, the authority's chief financial officer, Friday.
The bonds were sold in three tranches.
An $18.575 million tranche of bonds has a 3.125% coupon to yield 3.18%, a $50 million tranche of bonds has a 4% coupon to yield 3.18% and $134.78 million tranche of bonds has a 5% coupon to yield 3.18%.
Dial said he did not have the maturities immediately available.
J.P. Morgan Securities Inc. and Lehman Brothers were the lead managers for the negotiated sale.
Proceeds will be used to accelerate the authority's program of projects expected between now and 2011, Dial said.
| Issuer: | San Joaquin Transportation Authority
|
| Issue: | Bonds
|
| Amount: | $210 million
|
| Type: | Negotiated
|
| Coupons: | 3.125% for $18.575 million; 4% for $50 million; 5% for $134.78 million
|
| Yield: | 3.18%
|
| Underwriters: | Lehman Brothers and J.P. Morgan Securities Inc.
|
| Pricing date: | May 7
|
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