Published on 8/27/2012 in the Prospect News Municipals Daily.
New Issue: Tri-County Metropolitan Transportation District, Ore., prices $93.29 million of revenue bonds
By Sheri Kasprzak
New York, Aug. 27 - The Tri-County Metropolitan Transportation District of Oregon sold $93.29 million of series 2012A senior-lien payroll tax revenue bonds, according to a pricing sheet.
The bonds (Aa1/AAA/) were sold through senior managers Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC.
The bonds are due 2013 to 2032 with a term bond due in 2037. The serial coupons range from 1% to 5% with yields from 0.28% to 2.83%. The 2037 bonds have a 5% coupon to yield 3.12%.
Proceeds will be used to pay for or reimburse the Tri-County Metropolitan Transportation District for transportation projects.
| Issuer: | Tri-County Metropolitan Transportation District, Ore.
|
| Issue: | Series 2012A senior-lien payroll tax revenue bonds
|
| Amount: | $93.29 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 30
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $2.05 million | 2013 | Serial | 1% | 0.28%
|
| $2.09 million | 2014 | Serial | 3% | 0.35%
|
| $2,165,000 | 2015 | Serial | 4% | 0.46%
|
| $2,265,000 | 2016 | Serial | 5% | 0.59%
|
| $2.38 million | 2017 | Serial | 5% | 0.79%
|
| $2,605,000 | 2018 | Serial | 4% | 1.10%
|
| $2,725,000 | 2019 | Serial | 5% | 1.40%
|
| $2,725,000 | 2020 | Serial | 4% | 1.67%
|
| $2.85 million | 2021 | Serial | 5% | 1.89%
|
| $3 million | 2022 | Serial | 5% | 2.04%
|
| $3.15 million | 2023 | Serial | 5% | 2.19%
|
| $3,315,000 | 2024 | Serial | 5% | 2.30%
|
| $3,485,000 | 2025 | Serial | 5% | 2.38%
|
| $3.66 million | 2026 | Serial | 5% | 2.45%
|
| $3.85 million | 2027 | Serial | 5% | 2.52%
|
| $4,045,000 | 2028 | Serial | 5% | 2.60%
|
| $4,255,000 | 2029 | Serial | 5% | 2.67%
|
| $4,475,000 | 2030 | Serial | 5% | 2.73%
|
| $4.7 million | 2031 | Serial | 5% | 2.77%
|
| $4,945,000 | 2032 | Serial | 5% | 2.83%
|
| $28.79 million | 2037 | Term | 5% | 3.12%
|
© 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.
