HOUSTON, TX — METRO's name was in lights to celebrate a Wall Street deal that means $72.3 million in savings for the Authority. The successful pricing of its 2020A bonds for $304 million capitalized on market conditions to maximize savings on debt repayment.

"This savings deal is exciting and reflects METRO's financial stability today and into the future," said METRO President & CEO Tom Lambert.

The successful refunding comes just days after KBRA and S&P Global assigned AAA ratings and Stable outlooks to METRO's 2020A bonds.

Morgan Stanley was the lead underwriter and PFM, LLC served as the financial adviser for the transaction.

The Metropolitan Transit Authority of Harris County (METRO) is a public transit provider, offering transportation services about 370,000 times per day. Besides operating more than 1,200 buses on METRO’s network, METRORail's system includes the Red Line (Main Street and Northline), Green Line (East End) and Purple Line (Southeast). METRO’s services also include: STAR Vanpool, METROLift, HOV/HOT lanes, Bike & Ride program, Park & Ride and road improvement projects.