Pennsylvania Turnpike Commission offers $262 million revenue bonds

By Sheri Kasprzak

New York, April 20 – The Pennsylvania Turnpike Commission is set to price $262 million of series 2015A subordinate revenue bonds on Tuesday, according to a sales calendar.

The offering includes $212 million of series 2015A-1 fixed-rate subordinate revenue bonds and $50 million of series 2015A-2 Sifma index notes.

The bonds (A3/A-/A-) will be sold through senior manager Piper Jaffray & Co.

Proceeds will be used to finance grants to mass transit agencies and fund multimodal transportation projects, as well as to refund a portion of the commission’s series 2011A revenue bonds.

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