New Jersey Turnpike arranges $149.23 million revenue bond offering

By Sheri Kasprzak

New York, Jan. 11 – The New Jersey Turnpike Authority is expected to price $149,225,000 of series 2016A turnpike revenue bonds on Thursday, according to a preliminary official statement.

The bonds (A3/A+/A) will be sold on a negotiated basis with Goldman Sachs & Co. as the senior manager. The co-managers are PNC Capital Markets LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC.

The bonds are due 2031 to 2035.

Proceeds will be used to advance refund and defease all of the authority’s series 2004B revenue bonds.

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