The municipal market was slightly firmer yesterday, as several of the week's largest scheduled transactions priced in the primary market.Siebert, Brandford, Shank & Co. priced $830 million of Build America Bonds for Dallas Area Rapid Transit. The deal contains a series of 30-year BABs that were priced to yield 175 basis points over the comparable Treasury yield and a series of 40-year BABs priced to yield 150 basis points over the comparable Treasury yield, according to market sources. Further pricing information on the sale was not available by press time. The credit is rated Aa3 by Moody's Investors Service and AAA by Standard & Poor's.
JPMorgan priced $750 million of revenue bonds for Atlanta, upsized from $600 million during the repricing. The bonds mature from 2010 through 2029, with term bonds in 2034 and 2039. Yields range from 3.15% with a 4% coupon in 2011 to 6.38% with a 6.25% coupon in 2039. Bonds maturing in 2010 were decided via sealed bid. The bonds, which are callable at par in 2019, are rated Baa1 by Moody's, A by Standard & Poor's, and BBB-plus by Fitch Ratings.