Fort Bend Grand Parkway Toll Road, Texas, to sell $179.83 million of revenue bonds

By Sheri Kasprzak

New York, July 17 - The Fort Bend Grand Parkway Toll Road Authority of Fort Bend County, Texas, plans to price $179,825,000 of series 2012 limited contract tax and subordinate lien toll road revenue bonds, according to a preliminary official statement.

The bonds (//AA+) will be sold through Bank of America Merrill Lynch and Citigroup Global Markets Inc. The co-managers are Estrada Hinojosa & Co. Inc., Loop Capital Markets LLC and Raymond James/Morgan Keegan.

The bonds are due 2022 to 2046.

Proceeds will be used to finance the construction, design, acquisition and development of toll overpasses on the parkway and the reconstruction of the existing roadway from U.S. Highway 59 to Market Road 1093, as well as to pay 36 months of capitalized interest.

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