Los Angeles MTA Plans to Sell S200M of Auction-Rate Debt

Saskal, Rich
September 2004
Bond Buyer;9/7/2004, Vol. 349 Issue 31963, p1
Trade Publication
The article reports that, the Los Angeles County Metropolitan Transportation Authority (MTA) plans to issue $200 million of auction-rate debt on September 15. The negotiated deal would refund fixed-rate debt issued by the agency in 1996 to construct its headquarters tower next to Los Angeles Union Station. The authority plans to swap to a synthetic fixed rate, said the MTA's executive officer for finance Terry Mat-Sumoto. The proceeds will advance refund the entire $186 million of principal from the 1996 bonds.


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