Georgia tollway authority to sell $600 million revenue bonds Feb. 18

By Sheri Kasprzak

New York, Feb. 5 - The Georgia State Road and Tollway Authority is gearing up to sell $600 million in series 2009 revenue bonds on Feb. 18, said a sellside source connected to the deal.

The bonds (Aa3/AA-/AA-) will be sold on a negotiated basis with Barclays Capital Inc. as the senior manager.

The co-managers are Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Banc of America Securities LLC; Goldman, Sachs & Co.; Jackson Securities Inc.; Merrill Lynch & Co.; Morgan Keegan & Co. Inc.; Morgan Stanley & Co. Inc.; SunTrust Robinson Humphrey; Synovus Securities Inc.; and Wachovia Securities Inc.

The sale includes $480 million in series 2009A federal highway grant anticipation revenue bonds and $120 million in series 2009B federal highway reimbursement revenue bonds.

The series 2009A bonds are due 2010 to 2021, and the 2009B bonds are due 2010 to 2021.

Proceeds will be used to fund a portion of a land transportation initiative from the state. The rest will refund the authority's series 2006 and series 2008 revenue bonds, as well as refinance the authority's commercial paper notes.

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