FOR IMMEDIATE RELEASE
February 13, 2025
MARTA RAISES CAPITAL, SAVES MILLIONS WITH BOND ISSUANCE AND REFUNDING
Authority to Issue $328 Million in Debt and Save $8.2 Million with Refunding
ATLANTA – The Metropolitan Atlanta Rapid Transit Authority (MARTA) Board of Directors today approved a resolution to execute financial transactions that will generate substantial savings and increase the Authority’s liquidity by hundreds of millions of dollars.
MARTA will refund $148 million of its series 2020B and 2021D bonds, resulting in $8.2 million in net present value savings on future interest costs. In addition, the Board of Directors authorized the issuance of a new money bond with a par value of $328 million, resulting in the Authority receiving $350 million in funds due to market conditions.
Recognizing the volatility in the financial markets, MARTA was able to leverage its strong financial positioning and high AAA credit ratings to achieve favorable borrowing conditions.
“This transaction allows MARTA to achieve significant savings on borrowing costs while securing the necessary funding to support our operational and capital needs,” said MARTA General Manager and CEO Collie Greenwood. “We appreciate the prudent judgement of our board.”
“This is yet another example of MARTA’s fiscal discipline and responsible stewardship translating into tangible results for our transit system and residents of the metropolitan Atlanta area,” said MARTA Board of Directors Chair Jennifer Ide.
MARTA successfully executed this transaction with support from PFM Financial Advisors, and a legal team from Holland & Knight LLP, Kutak Rock LLP, and Townsend & Lockett LLC.
Following a review of several proposals from multiple financial institutions, MARTA selected Wells Fargo to lead this transaction, citing the bank’s compelling analysis and expertise in executing similar deals.
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