San Diego arranges $384.33 million of transportation revenue bonds

By Sheri Kasprzak

New York, May 14 - The San Diego County Regional Transportation Commission is set to price $384,325,000 of series 2012A limited tax sales tax revenue bonds, according to a preliminary official statement.

The bonds (Aa2/AAA/) will be sold on a negotiated basis with Barclays Capital Inc. as the senior manager. The co-managers are J.P. Morgan Securities LLC; Goldman, Sachs & Co.; Morgan Stanley & Co. LLC; and Bank of America Merrill Lynch.

The bonds are due 2013 to 2032 with term bonds due in 2037, 2042 and 2048.

Proceeds will be used to widen State Road 76, widen and extend State Road 52, improve transit projects, construct high-occupancy vehicle lanes on Interstate 5 and make improvements to other roads and highways.

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