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North Texas Tollway Authority sets $2.6 bln bond sale
September 8, 2017 / 8:20 PM / a month ago

North Texas Tollway Authority sets $2.6 bln bond sale

CHICAGO, Sept 8 (Reuters) - The North Texas Tollway Authority plans to sell about $2.6 billion of revenue bonds next month subject to market conditions, the authority said on Friday.

In a notice posted on the Municipal Securities Rulemaking Board’s disclosure website, the authority said it was considering refunding outstanding bonds related to its special projects system issued in 2011, along with other tollway bonds issued in 2005, 2008 and 2010.

A prospectus for the deal, which is tentatively scheduled to price on Oct. 12 following an Oct. 11 order period for retail investors, is expected to be released around Sept. 22, according to the authority.

The issue will consist of about $1.8 billion of first tier bonds and about $800 million of second tier bonds.

“The size, timing, and structure of the anticipated transaction remain subject to market conditions and (the tollway authority) reserves the right to change or modify its plans as it deems appropriate,” the notice said. (Reporting By Karen Pierog; Editing by Phil Berlowitz)

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