Published on 6/18/2014 in the Prospect News Municipals Daily.
New Issue: Chicago Transit Authority prices $555 million sales tax revenue bonds
By Sheri Kasprzak
New York, June 18 – The Chicago Transit Authority sold $555 million of series 2014 sales tax receipts revenue bonds, according to a pricing sheet.
The bonds (/AA/) were sold through senior manager Loop Capital Markets LLC.
The bonds are due in 2044 and 2049. The 2044 bonds have a 5% coupon priced at 107.286 and a 5% coupon priced at 108.165. The 2049 bonds have a 5.25% coupon priced at 108.5.
Proceeds will be used to finance capital projects under the authority’s capital plan.
| Issuer: | Chicago Transit Authority
|
| Issue: | Series 2014 sales tax receipts revenue bonds
|
| Amount: | $555 million
|
| Type: | Negotiated
|
| Underwriters: | Loop Capital Markets LLC (lead), Barclays, Morgan Stanley & Co. LLC and William Blair & Co. Inc. (co-senior managers); Cabrera Capital Markets LLC, Blaylock Beal Van LLC, Estrada Hinojosa & Co. Inc., Piper Jaffray & Co., PNC Capital Markets LLC, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Rating: | Standard & Poor’s: AA
|
| Pricing date: | June 18
|
| Settlement date: | July 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $147,535,000 | 2044 | Term | 5% | 107.286
|
| $68.75 million | 2044 | Term | 5% | 108.165
|
| $338,715,000 | 2049 | Term | 5.25% | 108.5
|
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