Foothill/Eastern Transportation to sell $2.26 bln of bonds Dec 9 wk

Mon Nov 25, 2013 9:51am EST

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Nov 25 (Reuters) - Foothill/Eastern Transportation Corridor Agency in California is expected to issue $2.259 billion of refunding revenue bonds, with the sale tentatively planned for the week of Dec. 9, a market source said on Monday.

The issue will include series 2013A toll road refunding revenue bonds which consists of three portions, $1.354 billion of current interest bonds, $173.8 million of convertible capital appreciation bonds, and $155.3 million of capital appreciation bonds.

The agency will also sell series 2013B toll road refunding revenue bonds which will consist of $125 million of current interest bonds B-1, $125 million of current interest bonds B-2, and $125 million of current interest bonds B-3

The sale will also include $201.4 million of 2013C junior lien toll road refunding revenue bonds.

Barclays and Goldman Sachs are the joint book running managers of the sale, according to the preliminary official statement.

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