By Sheri Kasprzak
New York, April 7 - The Pennsylvania Turnpike Commission priced $92.035 million of series 2011B variable-rate turnpike revenue bonds on Thursday, according to a pricing sheet.
The bonds were sold through RBC Capital Markets LLC.
The bonds are due 2012 to 2015 and bear interest at the weekly rate.
Moody's Investors Service rates the 2012 maturity MIG1 and the rest of the maturities Aa3. Standard & Poor's and Fitch Ratings rate the bonds A+.
Proceeds will be used to refund the commission's outstanding series 2001S bonds.
| Issuer: | Pennsylvania Turnpike Commission
|
| Issue: | Series 2011B variable-rate turnpike revenue bonds
|
| Amount: | $92.035 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Moody's: MIG1 (for 2012); Aa3 (for 2013 to 2015)
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | April 7
|
| Settlement date: | April 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $22.175 million | 2012 | Serial | Weekly | 100
|
| $22.82 million | 2013 | Serial | Weekly | 100
|
| $23.27 million | 2014 | Serial | Weekly | 100
|
| $23.77 million | 2015 | Serial | Weekly | 100
|
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