By Sheri Kasprzak
New York, Oct. 27 - The Chicago Transit Authority priced $476.905 million of series 2011 sales tax receipts revenue bonds, according to a pricing sheet.
The bonds (Aa3/AA) were sold through Wells Fargo Securities LLC and Morgan Stanley & Co. LLC. The co-managers were Loop Capital Markets LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., Blaylock Robert Van LLC, Cabrera Capital Markets LLC, Estrada Hinojosa & Co. Inc., Melvin & Co. and M.R. Beal & Co.
The bonds are due 2021 to 2031 with term bonds due in 2036 and 2040. The serial coupons range from 5% to 5.25%. The 2036 bonds have a 5.25% coupon priced at 105.463, and the 2040 bonds have a 5.25% coupon priced at 105.23.
Proceeds will be used to purchase rail cars and make other capital improvements approved by the authority's board.
| Issuer: | Chicago Transit Authority
|
| Issue: | Series 2011 sales tax receipts revenue bonds
|
| Amount: | $476.905 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and Morgan Stanley & Co. LLC (lead); Loop Capital Markets LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., Blaylock Robert Van LLC, Cabrera Capital Markets LLC, Estrada Hinojosa & Co. Inc., Melvin & Co. and M.R. Beal & Co. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's AA
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 4
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $14.09 million | 2021 | Serial | 5% | 110.759
|
| $14.8 million | 2022 | Serial | 5% | 110.191
|
| $15.54 million | 2023 | Serial | 5.25% | 111.977
|
| $16.36 million | 2024 | Serial | 5.25% | 111.331
|
| $17.22 million | 2025 | Serial | 5.25% | 110.619
|
| $18.12 million | 2026 | Serial | 5.25% | 109.638
|
| $19.075 million | 2027 | Serial | 5.25% | 108.752
|
| $20.08 million | 2028 | Serial | 5.25% | 107.873
|
| $21.135 million | 2029 | Serial | 5.25% | 106.77
|
| $22.25 million | 2030 | Serial | 5.25% | 106.093
|
| $23.425 million | 2031 | Serial | 5.25% | 105.62
|
| $136.94 million | 2036 | Term | 5.25% | 105.463
|
| $137.87 million | 2040 | Term | 5.25% | 105.23
|
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