Alabama Federal Aid Highway Finance organizes $508.48 million offering

By Sheri Kasprzak

New York, Jan. 12 – The Alabama Federal Aid Highway Finance Authority is set to price $508,475,000 of series 2015 special obligation revenue bonds, according to a preliminary official statement.

The bonds (Aa1/AAA/) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and Joe Jolly & Co. as the lead managers. The co-managers are Harbor Financial Services LLC, Thornton Farish Inc. and Securities Capital Corp.

The bonds are due 2016 to 2034.

Proceeds will be used to finance road, bridge and highway improvements.

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