North Carolina Turnpike plans $341.975 million revenue bonds Tuesday

By Sheri Kasprzak

New York, July 9 - The North Carolina Turnpike Authority plans to sell its previously announced $341.975 million of series 2009 Triangle Expressway System senior-lien revenue bonds (Aa2/AAA/AA) on Tuesday, said a sales calendar.

The deal includes $29.475 million of series 2009A state annual appropriation revenue bonds and $312.5 million of series 2009B state annual appropriation revenue Build America Bonds.

Merrill Lynch & Co. Inc. and Banc of America Securities LLC are the lead managers. The co-managers include BB&T Capital Markets Inc., Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Loop Capital Markets LLC, RBC Capital Markets Corp., Siebert Brandford Shank & Co. LLC, Wachovia Securities Inc. and Southwest Securities Inc.

The 2009A bonds are due 2019 to 2024 with term bonds due 2029 and 2039.

Proceeds will fund engineering costs, develop rights-of-way and roadways in the Triangle Expressway System and pay for maintenance costs.

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