Miami-Dade County Expressway prepares $340 million revenue bond deal

By Sheri Kasprzak

New York, May 23 - The Miami-Dade County Expressway Authority is expected to price $340 million of series 2014A toll system revenue bonds, according to a preliminary official statement.

The bonds (A3/A-/A-) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. as the senior managers. The co-managers are RBC Capital Markets LLC and Rice Financial Products Co.

The maturities have not been set.

Proceeds will be used to finance improvements to the toll system as part of the authority's five-year plan.

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