Orlando-Orange County Expressway Authority of Florida to sell $499.105 million in bonds Monday

By Sheri Kasprzak

New York, April 25 - The Orlando-Orange County Expressway Authority in Florida plans to price $499.105 million in series 2008B variable-rate revenue refunding bonds Monday, according to a calendar of offerings.

The sale includes $131.025 million in series 2008B-1 bonds (//AAA/F1+), $118.5 million in series 2008B-2 bonds (//AA+/F1+), $149.76 million in series 2008B-3 bonds (//AA+/F1+) and $99.82 million in series 2008B-4 bonds (//AA+/F1+).

The bonds will be sold on a negotiated basis with Bank of America as the manager for the series 2008B-1 bonds, SunTrust Bank as the manager for the series 2008B-2 bonds and Wachovia Bank as the manager for the series 2008B-3 and 2008B-4 bonds.

The bonds will initially bear interest at the weekly rate but may be subject to conversion to other modes.

Proceeds will be used to construct roads and refund existing bonds, according to a statement from the issuer.

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