Published on 5/16/2014 in the Prospect News Municipals Daily.
New Issue: Camino Real Regional Mobility, Texas, sells $68.49 million bonds
By Sheri Kasprzak
New York, May 16 - The Camino Real Regional Mobility Authority of Texas sold $68,485,000 of series 2014 senior lien vehicle registration fee revenue bonds, according to a pricing sheet.
The bonds (/AA-/) were sold through BofA Merrill Lynch.
The bonds are due 2015 to 2034 with term bonds due in 2039 and 2044. The serial coupons range from 3% to 5% with yields from 0.25% to 3.59%. The 2039 bonds have a 4% coupon priced at 98.907 to yield 4.07%. The 2044 bonds have a 4% coupon priced at 98.112 to yield 4.11%.
Proceeds will be used to finance long-term transportation projects.
| Issuer: | Camino Real Regional Mobility Authority
|
| Issue: | Series 2014 senior lien vehicle registration fee revenue bonds
|
| Amount: | $68,485,000
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), Estrada Hinojosa & Co. Inc., Ramirez & Co. Inc. and Raymond James/Morgan Keegan (co-managers)
|
| Rating: | Standard & Poor's: AA-
|
| Pricing date: | May 15
|
| Settlement date: | May 28
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.06 million | 2015 | Serial | 5% | 104.78 | 0.25%
|
| $1.14 million | 2016 | Serial | 3% | 105.051 | 0.47%
|
| $1,175,000 | 2017 | Serial | 4% | 109.461 | 0.81%
|
| $1.22 million | 2018 | Serial | 5% | 114.997 | 1.16%
|
| $1.28 million | 2019 | Serial | 5% | 116.878 | 1.49%
|
| $1,345,000 | 2020 | Serial | 5% | 118.083 | 1.81%
|
| $1,415,000 | 2021 | Serial | 5% | 118.664 | 2.12%
|
| $1,485,000 | 2022 | Serial | 5% | 119.081 | 2.37%
|
| $1,555,000 | 2023 | Serial | 5% | 119.252 | 2.59%
|
| $1,635,000 | 2024 | Serial | 5% | 120.053 | 2.70%
|
| $1,715,000 | 2025 | Serial | 5% | 118.51 | 2.86%
|
| $1,805,000 | 2026 | Serial | 5% | 117.464 | 2.97%
|
| $1,895,000 | 2027 | Serial | 5% | 116.522 | 3.07%
|
| $1.99 million | 2028 | Serial | 5% | 115.682 | 3.16%
|
| $2,085,000 | 2029 | Serial | 5% | 114.849 | 3.25%
|
| $2.19 million | 2030 | Serial | 5% | 114.206 | 3.32%
|
| $2.3 million | 2031 | Serial | 5% | 113.567 | 3.39%
|
| $2,415,000 | 2032 | Serial | 5% | 112.933 | 3.46%
|
| $2,535,000 | 2033 | Serial | 5% | 112.303 | 3.53%
|
| $2,665,000 | 2034 | Serial | 5% | 111.766 | 3.59%
|
| $15,145,000 | 2039 | Term | 4% | 98.907 | 4.07%
|
| $18,435,000 | 2044 | Term | 4% | 98.112 | 4.11%
|
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