North Texas Tollway to price $490.81 million revenue refunding bonds

By Sheri Kasprzak

New York, Nov. 10 - The North Texas Tollway Authority plans to sell $490.81 million of series 2010 system first-tier revenue refunding bonds, according to a preliminary official statement.

The bonds (A2/A-/) will be sold on a negotiated basis with Bank of America Merrill Lynch and Loop Capital Markets LLC as the senior managers. The co-managers are First Southwest Co., Jefferies & Co. and M.R. Beal & Co.

The bonds are due 2017 to 2025 with term bonds due 2032, 2039 and 2043.

Proceeds will be used to refund the authority's series 1997A, 2008H-1, 2008J and 2008L-1 bonds.

Based in Plano, Texas, the authority maintains and operates highways and roadways in Collin, Dallas, Denton and Tarrant counties.

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