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Chicago Transit Authority arranges $176.92 million of refunding bonds
By Sheri Kasprzak
New York, July 28 – The Chicago Transit Authority is set to price $176.92 million capital grant receipts revenue refunding bonds, according to a preliminary official statement.
The deal includes $131.27 million of series 2015 Federal Transit Administration Section 5307 Urbanized Area bonds and $45.65 million of series 2015 Federal Transit Administration Section 5337 State of Good Repair bonds.
The bonds (/A/BBB) will be sold on a negotiated basis with RBC Capital Markets LLC and Citigroup Global Markets Inc. The co-managers are Loop Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Barclays, Cabrera Capital Markets LLC, Estrada Hinojosa & Co. Inc. and PNC Capital Markets LLC.
The urbanized area bonds are due 2018 to 2021, and the state of good repair bonds are due 2018 to 2026.
Proceeds will be used to refund existing 5307 and 5337 fund bonds.
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