New Jersey Economic Dev Auth to sell $456.8 mln bonds Nov 4 week

Wed Oct 23, 2013 12:19pm EDT

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Oct 23 (Reuters) - The New Jersey Economic Development Authority is planning to sell $456.8 million of tax-exempt private activity bonds for The Goethals Bridge Replacement Project during the week of Nov. 4, a market source said on Wednesday.

Proceeds from the sale will be used to finance some costs related to the development, design, construction operation and maintenance of a replacement Goethals Bridge, according to the preliminary official statement.

They will also be used for the demolition and removal of the existing Goethals Bridge linking Elizabeth, New Jersey to Staten Island, New York.

The lead manager on the sale is Bank of America Merrill Lynch.

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