New Jersey Economic Development preps $456.85 million of bridge bonds

By Sheri Kasprzak

New York, Oct. 24 - The New Jersey Economic Development Authority is expected to come to market with $456,845,000 of series 2013 tax-exempt private activity bonds for the Goethals Bridge replacement project, according to a preliminary official statement.

The bonds will be sold through BofA Merrill Lynch and Barclays with BMO Capital Markets LLC as the co-manager.

The maturities have not been set.

Proceeds will be used to finance improvements and replacements for the Goethals Bridge to decrease congestion, provide safer operating conditions, construct a pedestrian and bicycle pathway and enhance the structure integrity of the bridge.

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