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Kentucky Turnpike Authority to sell $334.21 million revenue bonds
By Sheri Kasprzak
New York, June 7 - The Turnpike Authority of Kentucky is expected to price $334.205 million in series 2010 economic development road revenue and revenue refunding bonds, according to a preliminary official statement.
The deal includes $148.64 million in series 2010A revenue and revenue refunding bonds and $185.565 million in series 2010B Build America Bonds.
The senior manager for the negotiated sale is Goldman Sachs & Co. The co-managers are Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; J.J.B. Hilliard, W.L. Lyons LLC; Morgan Keegan & Co. Inc.; PNC Capital Markets LLC; Edward D. Jones & Co. LP; First Kentucky Securities Corp.; Stifel, Nicolaus & Co. Inc.; Ross, Sinclaire & Associates LLC; Bank of America Merrill Lynch; and Sterne, Agee & Leach Inc.
The 2010A bonds are due 2013 to 2020. The 2010B bonds are due 2021 to 2025 with a term bond due 2030.
Proceeds will be used to fund the authority's six-year highway revitalization plan, as well as to refund existing debt.
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