First Tier Toll Revenue Refunding Bonds, Taxable Series 2020A

Subordinate Tier Toll Revenue Refunding Bonds, Taxable Series 2020B

On Monday, February 10, 2020, Estrada Hinojosa participated as Financial Advisor on two deals for the Grand Parkway Transportation Corporation. In a $220,415,000  First Tier Toll Revenue Refunding Bonds, Taxable Series 2020A and a $1,293,260,000 Subordinate Tier Toll Revenue Refunding Bonds, Taxable Series 2020B (TELA Supported). Proceeds from the sale of the Corporation’s bonds were used to prepay or refund certain Outstanding Obligations of the Corporation described to achieve debt service savings. During the pricing, Grand Parkway Transportation Corporation benefited from a positive tone in the municipal market and a low interest rate environment. U.S. Treasury yields were at historic lows and a drop in weekly new issue supply resulted in tightening credit spreads as demand outstripped supply.