Triborough Bridge and Tunnel Authority, N.Y., to price $1 billion bonds

By Cristal Cody

Springdale, Ark., July 7 - The Triborough Bridge and Tunnel Authority in New York tentatively plans to price $1 billion of revenue bonds on Thursday, a source with the issuer said Monday.

The MTA Bridges and Tunnels sale includes $650 million series 2008C general revenue bonds and $350 million series 2008D subordinate revenue bonds.

The bonds have serial maturities from 2009 through 2028.

Citigroup Global Markets is the senior manager of the negotiated sale.

Co-managers are Banc of America Securities LLC; Siebert Brandford Shank & Co.; M.R. Beal & Co.; Depfa First Albany Securities LLC; J.P. Morgan Securities Inc.; Lehman Brothers; Loop Capital Markets LLC; Merrill Lynch & Co.; Morgan Stanley; Ramirez & Co.; Raymond James & Associates; RBC Capital Markets; Roosevelt & Cross Inc. and Wachovia Bank, NA.

Proceeds will finance transit and commuter projects and refinance outstanding debt.

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