North Texas Tollway to sell $609.04 million bonds Tuesday

By Sheri Kasprzak

New York, Sept. 8 - North Texas Tollway Authority plans to price $609.036 million in series 2008 system revenue refunding bonds on Tuesday, according to an offering calendar.

The bonds will be sold through lead managers Citigroup Global Markets and Lehman Brothers. The co-managers are Estrada Hinojosa, First Southwest, Morgan Stanley & Co. Inc., M.R. Beal & Co., Southwest Securities and Wachovia Bank.

The sale includes $359.04 million in series 2008H first-tier put bonds, $199.997 million in series 2008I first-tier convertible capital appreciation bonds and $49.999 million in series 2008J first-tier capital appreciation bonds.

The 2008H bonds are due 2043, the 2008I bonds are due 2042 and 2043, and the 2008J bonds are due 2039 through 2042.

Proceeds will be used for the construction of State Highway 121.

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