By Sheri Kasprzak
New York, Jan. 29 - The New Jersey Turnpike Authority priced $275 million in series 2009 subordinate turnpike revenue bond anticipation notes on Monday, according to an official statement released Thursday.
The BANs (MIG1) were sold through lead manager Goldman, Sachs & Co.
The notes are due Dec. 31, 2009, and have a 2.25% coupon to yield 1.5%.
Proceeds will be used to refund the authority's series 2008B BANs, as well as to purchase its series 1991D, 2000B-G, 2003C and 2003D bonds. The rest will fund improvements to the turnpike system.
| Issuer: | New Jersey Turnpike Authority
|
| Issue: | Series 2009 subordinate turnpike revenue bond anticipation notes
|
| Amount: | $275 million
|
| Type: | Negotiated
|
| Underwriter: | Goldman, Sachs & Co.
|
| Maturity: | Dec. 31, 2009
|
| Coupon: | 2.25%
|
| Yield: | 1.5%
|
| Rating: | Moody's: MIG1
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 30
|
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