Dallas transit to issue $1 billion of bonds as sales tax revenues rise
November 8th, 2021
November 8, 2021 - BondBuyer.com -
Dallas Area Rapid Transit authority will supply a hungry muni market with $1 billion of highly-rated revenue refunding bonds, taking advantage of continuing low interest rates.
Coming in two tranches — $572.7 million of taxable senior lien Series A and $428.2 million of tax-exempt Series B — the bonds are expected to price Tuesday.
“We’re anticipating strong demand for our bonds,” said DART Treasurer Dwight Burns. “The economic recovery in our north Texas service area has been so robust that we’ve experienced several months of record-breaking sales tax receipts, providing bondholders with a rock-solid revenue stream for the return on their investment.”
Read more: https://www.bondbuyer.com/news/dallas-transit-to-issue-1-billion-of-bonds-as-sales-tax-revenues-rise
Dallas Area Rapid Transit authority will supply a hungry muni market with $1 billion of highly-rated revenue refunding bonds, taking advantage of continuing low interest rates.
Coming in two tranches — $572.7 million of taxable senior lien Series A and $428.2 million of tax-exempt Series B — the bonds are expected to price Tuesday.
“We’re anticipating strong demand for our bonds,” said DART Treasurer Dwight Burns. “The economic recovery in our north Texas service area has been so robust that we’ve experienced several months of record-breaking sales tax receipts, providing bondholders with a rock-solid revenue stream for the return on their investment.”
Read more: https://www.bondbuyer.com/news/dallas-transit-to-issue-1-billion-of-bonds-as-sales-tax-revenues-rise