Kentucky Turnpike Authority organizes $122.12 million refunding bonds

By Sheri Kasprzak

New York, May 29 - The Kentucky Turnpike Authority is set to price $122.12 million of series 2014A economic development road revenue refunding bonds, according to a preliminary official statement.

The bonds (/AA+/A+) will be sold on a negotiated basis with Goldman, Sachs & Co. as the lead manager. The co-managers are Morgan Stanley & Co. LLC; Citigroup Global Markets Inc.; J.J.B. Hilliard, W.L. Lyons LLC; Raymond James/Morgan Keegan; PNC Capital Markets LLC; First Kentucky Securities Corp.; Edward D. Jones & Co. LP; Fifth Third Securities Inc.; and Sterne, Agee & Leach Inc.

The bonds are due 2016 to 2025.

Proceeds will be used to refund the authority's series 2005B revenue bonds.

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