On November 18, 2021, the San Joaquin Hills Transportation Corridor Agency (the “Agency”) approved a resolution authorizing the Invitation of offers from the holders of its below listed bonds to tender for cash or to exchange their bonds.
| Series | Maturity Date | Interest Rate | Outstanding Principal Amount |
CSUIP No. |
|---|---|---|---|---|
| 2014A | 01/15/2034 | 5.00% | $134,935,000 | 798111GH7 |
| 2014A | 01/15/2044 | 5.00% | $260,000,000 | 798111GJ3 |
| 2014A | 01/15/2050 | 5.00% | $592,820,000 | 798111GK0 |
The Invitation is part of the Agency’s plan to refinance all or a portion of the Agency’s Senior Lien Toll Road Refunding Revenue Bonds, Series 2014A. The refinancing plan is being undertaken by the Agency for the purpose of achieving debt service savings. There can be no assurance that the Invitation or any component of the refinancing transaction will be completed.
The Invitation to tender bonds for cash is open to all owners of the bonds. The Invitation to exchange bonds will be open only to sophisticated municipal market professionals and qualified institutional buyers (QIBs).
The Invitation of offers commenced November 18, 2021. This is the expected calendar for the Invitation:
KEY DATES AND TIMES
All of these dates and times are subject to change. All times are New York City time. Notices of changes will be sent in the manner provided for in this Invitation.
Launch Date: November 18, 2021
Notice of Exchange Factors: November 29, 2021 by 5 P.M.
Expiration Date: December 3, 2021 at 5 P.M.
Notice of Results/Acceptance Date: December 6, 2021 by 5 P.M.
Settlement Date: December 22, 2021
Goldman Sachs & Co. LLC has been appointed as dealer manager for the Invitation. Bondholder Communications Group LLC has been appointed as the Information Agent and Tender/Exchange Agent. Copies of the Invitation and related documents and announcements will be posted on the website of the Information Agent at: www.bondcom.com/SJHTCA.
This communication and the information contained herein do not constitute an offer to sell or the solicitation of an offer to buy any security. Such an offer can only be made pursuant to the Invitation materials to be distributed by the Agency, which includes the Agency’s Preliminary Official Statement relating to the refinancing transaction.
The Transportation Corridor Agencies (TCA) are two joint powers authorities formed by the California legislature in 1986 to plan, finance, construct and operate Orange County’s public toll road system comprised of the 73, 133, 241 and 261 Toll Roads.
