And Then There Was One

Braun, Martin Z.
June 2003
Bond Buyer;6/23/2003, Vol. 344 Issue 31662, p1
Trade Publication
The New Jersey Turnpike Authority is planning to sell $ 1.45 billion in tax-exempt and taxable fixed-rate bonds this week, which is the first half of one of the largest and most complex deals in years. In early July, the agency is expected to sell two more series amounting to $ 900 million of variable rate bonds. Featuring four different types of securities, two interest rate exchanges and five bond insurers, the $ 2.35 billion in debt will finance the merger of the two largest and most significant highways in the state, the 118-mile New Jersey Turnpike and 173-mile Garden State Parkway.


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