Missouri Highways and Transportation plans $894.45 million bond sale

By Sheri Kasprzak

New York, May 14 - The Missouri Highways and Transportation Commission plans to price $894.45 million of series 2014 refunding state road bonds, according to a preliminary official statement.

The deal includes $581.98 million of series 2014A first-lien bonds (Aaa/AAA/AAA) and $312.47 million of series 2014B second-lien bonds (Aa1/AAA/AA+).

The bonds will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager.

The co-managers are Jefferies & Co., Wells Fargo Securities LLC, Barclays, Edward D. Jones & Co. LP, George K. Baum & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co. LLC, Stern Brothers & Co., Stifel, Nicolaus & Co. and Valdes & Moreno Inc.

The 2014A bonds are due 2017 to 2026. The 2014B bonds are due 2018 to 2025.

Proceeds will be used to refund the commission's series 2006 bonds.

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