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Results Chart for Delivery Method and Financing
From Public (Government) Sources to Producers: NTTA incurred $2.5 billion in debt financed through DNT System Revenue Bonds. $700 million in Bond Anticipation Notes to complete construction of the SH 121 project. NTTA guarantees 50 years of annual payments (with a NPV in 2007 of $833 million) to TX DOT, relying on DNT System Revenue Bonds.
Direct Cash Support: Initial funding for the transaction comes throught a Bank Facility arranged by Royal Bank of Canada in an amount up to US$3.5 billion, with expectation that all of this amount will be retired in full from the issuance of DNT System Revenue Bonds within 6-12 months of the initial June, 2007 transaction. Lehman Brothers, Citigroup, and Bears Stearns were arrangers of the initial bank facility and the proposed subsitution of DNT System Revenue Bonds.
Rated by Moody's: No rating of the SH121 project in May 2007. Moody's indicated on May 2, 2007 that NTTA's then A1 senior lien toll revenue bonds rating would "remain in the A category."