Turnpike Authority, Ky., to sell $230.99 million of road revenue bonds

By Sheri Kasprzak

New York, Feb. 23 - The Turnpike Authority of Kentucky is gearing up to price $230,985,000 of series 2012A economic development road revenue bonds, according to a preliminary official statement.

The bonds (Aa2/AA+/AA-) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The co-managers are Morgan Stanley & Co. LLC; Citigroup Global Markets Inc.; J.J.B. Hilliard, W.L. Lyons LLC; PNC Capital Markets LLC; Morgan Keegan & Co. Inc.; Stifel, Nicolaus & Co. Inc.; Edward D. Jones & Co. LP; First Kentucky Securities Inc.; Sterne, Agee & Leach Inc.; Ross, Sinclaire & Associates Inc.; Bank of America Merrill Lynch; and J.P. Morgan Securities LLC.

The bonds are due 2016 to 2032.

Proceeds will be used to fund revitalization projects included in the authority's six-year capital plan.

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