Transportation Infrastructure Properties, N.Y., to price $426.28 million refunding bonds

By Sheri Kasprzak

New York, Aug. 15 - The Transportation Infrastructure Properties LLC of New York is set to sell $426,275,000 of series 2012 revenue and refunding bonds, according to a preliminary official statement.

The deal includes $125.38 million of series 2012A New York Industrial Development Agency senior airport facilities revenue and refunding bonds and $189,715,000 of series 2012B Public Finance Authority senior airport facilities revenue and refunding bonds as the offered bonds (/BBB-/).

Three other tranches will be privately placed. The private placement includes

• $28.2 million of series 2012C Public Finance Authority senior airport facilities revenue and refunding bonds;

• $13,945,000 of series 2012D Public Finance Authority senior airport facilities revenue and refunding bonds;

• $15.98 million of series 2012E Public Finance Authority senior airport facilities revenue and refunding bonds; and

• $53,055,000 of series 2012F Public Finance Authority senior airport facilities revenue and refunding bonds.

The bonds will be sold through Goldman Sachs & Co. with Cabrera Capital Markets LLC and Loop Capital Markets LLC.

Proceeds from the bonds will be used to refund existing airport facilities revenue bonds.

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