Central Puget Sound transit, Wash., to sell $400 million bonds, BABs

By Sheri Kasprzak

New York, Sept. 9 - The Central Puget Sound Regional Transit Authority in Washington is expected to price $400 million in series 2009 sales tax and motor vehicle excise tax bonds, according to a preliminary official statement.

The deal includes $100 million in series 2009P-1 bonds and series 2009P-2T taxable Build America Bonds, but the exact breakdown of those tranches has not been set. The offer also includes $300 million in series 2009S-2T taxable Build America Bonds.

Citigroup Global Markets Inc. is the sole bookrunner for the series 2009P-1 bonds. Citi and Goldman, Sachs & Co. are the joint bookrunners for the series 2009P-2T and series 2009S-2T bonds. The co-managers for all the bonds are Merrill Lynch & Co. Inc., RBC Capital Markets Corp. and Siebert Brandford Shank & Co. LLC.

Proceeds will be used to pay for or reimburse the authority for constructing, planning, designing or extending improvements to the authority's high-capacity transportation facilities.

The Central Puget Sound Regional Transit Authority is based in Seattle.

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