Published on 5/14/2013 in the Prospect News Municipals Daily.
New Issue: Los Angeles County Metropolitan Transportation sells $138.96 million bonds
By Sheri Kasprzak
New York, May 14 - The Los Angeles County Metropolitan Transportation Authority sold $138.96 million of series 2013A Proposition C revenue refunding bonds, according to a pricing sheet.
The bonds (Aa3/AA+/) were sold competitively with J.P. Morgan Securities LLC winning the bid, said Terry Matsumoto, chief financial services officer for the authority.
The bonds are due 2014 to 2023 with 2% to 5% coupons and yields from 0.2% to 1.91%.
Proceeds will be used to refund existing debt.
| Issuer: | Los Angeles County Metropolitan Transportation Authority
|
| Issue: | Series 2013A Proposition C revenue refunding bonds
|
| Amount: | $138.96 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities LLC (winner)
|
| True interest cost: | 1.383758%
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA+
|
| Pricing date: | May 14
|
| Settlement date: | May 29
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $11.07 million | 2014 | Serial | 2% | 101.956 | 0.20%
|
| $11,825,000 | 2015 | Serial | 4% | 107.742 | 0.28%
|
| $12,265,000 | 2016 | Serial | 5% | 113.874 | 0.47%
|
| $12.84 million | 2017 | Serial | 5% | 117.568 | 0.64%
|
| $13.45 million | 2018 | Serial | 5% | 120.625 | 0.85%
|
| $14,115,000 | 2019 | Serial | 5% | 122.84 | 1.11%
|
| $14.76 million | 2020 | Serial | 5% | 124.594 | 1.35%
|
| $15,465,000 | 2021 | Serial | 5% | 126.045 | 1.56%
|
| $16.2 million | 2022 | Serial | 5% | 127.294 | 1.74%
|
| $16.97 million | 2023 | Serial | 5% | 128.231 | 1.91%
|
© 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.
