The Southeastern Pennsylvania Transportation Authority sold $201.6 million of tax-exempt capital grant receipts bonds, Series 2011.
Philadelphia’s transit system issued the bonds last Thursday under the Federal Transit Administration’s Section 5309 Fixed Guideway Modernization Formula Funds program. They will pay for the acquisition of new Silverliner V railcars and rehabilitation of Wayne Junction station.
Wayne Junction in Philadelphia’s Germantown-Nicetown area connects five regional rail lines, one trackless trolley route, and two bus routes.
The bonds were not insured. Certain bonds are callable in 2022 through 2027.