Alameda Corridor Transportation, Calif., contemplates bond offering

By Sheri Kasprzak

New York, April 22 – The Alameda Corridor Transportation Authority of California is considering its options for restructuring, modifying, acquiring or refunding outstanding bonds, according to a statement from the authority.

The authority is working with its advisers to develop a new bond offering, according to the statement. The exact parameters of the deal have not yet been hammered out.

The purpose of the offering, the authority said in its statement, is to reduce port shortfall advance payments in future years to fund portions of authority debt service.

The offering is subject to board review and approval, and the pricing and timing of the deal are subject to market and other conditions. Pricing could occur as early as this summer, the statement said.

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