Orlando-Orange County Expressway Authority in Florida to sell $499.105 million bonds Thursday

By Sheri Kasprzak

New York, April 28 - The Orlando-Orange County Expressway Authority of Florida will price a $499.105 million offering of fixed-rate revenue refunding bonds on Thursday, Lindsay Hodges, a spokesperson for the authority, said on Monday.

The sale includes $131.025 million in series 2008B-1 bonds (//AAA/F1+), $118.5 million in series 2008B-2 bonds (//AA+/F1+), $149.76 million in series 2008B-3 bonds (//AA+/F1+) and $99.82 million in series 2008B-4 bonds (//AA+/F1+).

The bonds will be sold on a negotiated basis with Bank of America as the manager for the series 2008B-1 bonds, SunTrust Bank as the manager for the series 2008B-2 bonds and Wachovia Bank as the manager for the series 2008B-3 and 2008B-4 bonds.

Proceeds will be used to construct roads and to refund existing bonds, according to a statement from the issuer.

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