Alabama Federal Aid Highway to sell grant anticipation refunding bonds

By Sheri Kasprzak

New York, Aug. 16 - The Alabama Federal Aid Highway Finance Authority plans to price $90.175 million of series 2011 federal highway grant anticipation refunding bonds, according to a preliminary official statement.

The bonds (Aa2/AA) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the lead manager. The co-managers are First Tuskegee Capital Markets, Merchant Capital LLC and Morgan Keegan & Co. Inc.

The bonds are due 2012 to 2017.

Proceeds will be used to refund the authority's series 2002 federal highway grant anticipation bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.