Delaware Transportation prepares $221.35 million revenue bond offering

By Sheri Kasprzak

New York, Nov. 23 – The Delaware Transportation Authority is expected to hit the market with $221.35 million of series 2015 U.S. 301 project revenue bonds, according to a preliminary official statement.

The bonds (A1/AA-/) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager and Citigroup Global Markets Inc., J.P. Morgan Securities LLC and M&T Securities Inc. as the co-managers.

The bonds are due 2021 to 2023 and 2032 to 2035 with term bonds due in 2040, 2045 and 2055.

Proceeds will be used to finance a new 14-mile access-controlled highway near the Delaware-Maryland state line.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.