Georgia State Road and Tollway to price $600 million federal highway revenue bonds

By Cristal Cody

Springdale, Ark., March 19 - The Georgia State Road and Tollway Authority plans to price $600 million revenue bonds early next week, a source said Wednesday.

The authority will price the bonds in two tranches, including $480 million series 2008A federal highway grant anticipation revenue bonds and $120 million series 2008A federal highway reimbursement revenue bonds, according to the preliminary official statement released Tuesday.

The authority also expects to price up to $150 million federal highway reimbursement revenue commercial paper notes soon after the bond sale.

JPMorgan is the senior manager of the negotiated sale. Co-managers are Citi, Lehman Brothers, Banc of America Securities LLC, Goldman, Sachs & Co., Jackson Securities, Merrill Lynch & Co., Morgan Keegan & Co., Morgan Stanley, SunTrust Robinson Humphrey, Synovus Securities, UBS Investment Bank and Wachovia Securities.

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