Dallas Area Rapid Transit to price $402.3 million sales tax bonds

By Cristal Cody

Tupelo, Miss., Nov. 10 – Dallas Area Rapid Transit plans to price $402,305,000 of senior lien sales tax revenue refunding bonds, according to a preliminary official statement.

The series 2014A bonds (Aa2AA+/) have serial maturities from 2015 through 2036.

J.P. Morgan Securities LLC is the bookrunner for the negotiated offering. Co-managers are BofA Merrill Lynch; Goldman, Sachs & Co.; Ramirez & Co., Inc.; Academy Securities, Inc.; BOSC, Inc.; Cabrera Capital Markets, LLC; Loop Capital Markets, LLC; Mesirow Financial, Inc.; Raymond James & Associates, Inc.; RBC Capital Markets, LLC; Rice Financial Products Co.; and Siebert Brandford Shank & Co., LLC.

Proceeds will be used to refund a portion of DART’s outstanding series 2007 revenue refunding bonds and series 2008 revenue bonds.

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