New Jersey Turnpike coordinates $1 billion turnpike revenue bond deal

By Sheri Kasprzak

New York,, May 5 - The New Jersey Turnpike Authority is set to price $1 billion of series 2014A turnpike revenue bonds, according to a preliminary official statement.

The bonds (A3/A+/A) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The co-managers are BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Fidelity Capital Markets LLC, Stifel, Nicolaus & Co. Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.

The bonds are due 2027 to 2035.

Proceeds will be used to make capital improvements to the turnpike system as part of the authority's 10-year program.

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