Triborough Bridge and Tunnel, N.Y., to sell $400 million bonds

By Sheri Kasprzak

New York, Jan. 20 - The Triborough Bridge and Tunnel Authority plans to price $400 million in series 2009 mandatory tender bonds and revenue bonds, according to a preliminary official statement released Tuesday. Pricing is expected in January.

The sale includes $150 million in series 2009A-1 general revenue mandatory tender bonds and $250 million in series 2009A-2 general revenue bonds.

The bonds will be sold on a negotiated basis with Barclays Capital Inc. and Loop Capital Markets LLC as the senior managers.

The co-managers are J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Banc of America Securities LLC, Depfa First Albany Securities LLC, Merrill Lynch & Co., Morgan Stanley & Co. Inc., M.R. Beal & Co., Ramirez & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets LLC, Roosevelt & Cross Inc., Siebert Brandford Shank & Co. and Wachovia Bank.

Proceeds will be used to finance the authority's projects and refinance existing projects.

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