News • 03/09/2023
On October 30, 2020, Loop Capital Markets served as the bookrunning senior manager for Dallas Area Rapid Transit’s (“DART”) $281.090 million Senior Lien Sales Tax Revenue Refunding Bonds, Series 2020D (Taxable). The Bonds were rated Aa2 (Stable) by Moody’s and AAA (Stable) by Kroll. Bond proceeds were used to advance refund select Series 2014A and 2014B Bonds with a December 1, 2024 call date. The refunding achieved NPV savings of $24.048 million or 10.214% of refunded par. The syndicate generated more than $660 million of priority orders led by insurance companies and bond funds resulting in 2.4x oversubscription.