Illinois State Toll Highway plans $450 million highway revenue bonds

By Sheri Kasprzak

New York, May 2 - The Illinois State Toll Highway Authority is set to price $450 million of series 2014B toll highway senior revenue bonds, according to a preliminary official statement.

The bonds (Aa3//AA-) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Barclays as the senior managers. The co-managers are BMO Capital Markets LLC, Ramirez & Co. Inc., Fifth Third Securities Inc., Oppenheimer & Co., Piper Jaffray & Co., Rice Financial Products Co. and Stifel, Nicolaus & Co.

The bonds are due 2026 to 2034 with a term bond due in 2039.

Proceeds will be used to finance capital improvements as part of the authority's $12.1 billion, 15-year capital improvement plan.

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