North Texas Tollway to price $100 million revenue refunding bonds

By Sheri Kasprzak

New York, June 30 - The North Texas Tollway Authority is expected to price $100 million of series 2011A variable-rate revenue refunding bonds, according to a preliminary official statement.

The bonds (A1/P-1/A+/A-1/) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager.

The bonds are due Jan. 1, 2050 and initially bear interest at the weekly rate.

Proceeds will be used to refund the authority's series 2008J first-tier revenue bonds.

Based in Dallas, the authority constructs, repairs and maintains turnpike projects in Collin, Denton, Dallas and Tarrant counties in Texas.

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