Published on 8/7/2014 in the Prospect News Municipals Daily.
New Issue: New Jersey Turnpike Authority brings $202.03 million of revenue bonds
By Sheri Kasprzak
New York, Aug. 7 – The New Jersey Turnpike Authority priced $202,025,000 of series 2014C turnpike revenue bonds, according to a pricing sheet.
The bonds (A3) were sold through Citigroup Global Markets Inc. and RBC Capital Markets LLC.
The bonds are due 2019 to 2025 with 5% coupons.
Proceeds will be used to refund the authority’s series 2005C revenue bonds.
| Issuer: | New Jersey Turnpike Authority
|
| Issue: | Series 2014C turnpike revenue bonds
|
| Amount: | $202,025,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and RBC Capital Markets LLC (lead), Loop Capital Markets LLC, Mesirow Financial Inc., PNC Capital Markets LLC and Raymond James/Morgan Keegan (co-managers)
|
| Rating: | Moody’s: A3
|
| Pricing date: | Aug. 7
|
| Settlement date: | Oct. 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.15 million | 2019 | Serial | 5% | 115.1
|
| $49,105,000 | 2020 | Serial | 5% | 116.182
|
| $21,115,000 | 2021 | Serial | 5% | 117.368
|
| $21,865,000 | 2022 | Serial | 5% | 117.893
|
| $22,655,000 | 2023 | Serial | 5% | 118.495
|
| $23.47 million | 2024 | Serial | 5% | 118.951
|
| $60,665,000 | 2025 | Serial | 5% | 119.257
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
