New Jersey Turnpike Authority to bring $1.75 billion in bonds Tuesday

By Sheri Kasprzak

New York, April 17 - The New Jersey Turnpike Authority is expected to bring $1.75 billion in series 2009 revenue bonds on Tuesday, said a sellside source familiar with the deal.

The authority will conduct a retail order period on Monday.

The bonds (//A) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager.

A portion of the bonds - a taxable portion which has not yet been determined - will be Build America Bonds. The authority had originally announced it would sell at least $650 million of the bonds, but the deal was upsized, said the sellsider, because of expected demand.

The proceeds will be used to fund capital improvements, including widening the New Jersey Turnpike and the Garden State Parkway.

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