TX121
NTTA refinances $2.4b temporary borrowings for TX121 concession (UPDATE & ADD)
Posted Thu, 2008-03-06 16:33
North Texas Tollway Authority has successfully refinanced $2.4 billion of bond anticipation notes (BANs). The sale of bonds today was heavily oversubscribed. Over 60 institutions put orders in for $16b in NTTA bonds according to Bear Stearns who organized the placement.
NTTA chairman Paul Wageman said the result was "particularly gratifying" given recent turbulence in the municipal bond markets.
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NTTA bond ratings dropped a notch under weight of TX121 funding
Posted Thu, 2008-02-21 19:53
North Texas Tollway Authority (NTTA) has a groundbreaking ceremony Friday Feb 22 at the heavily fought-over TX121 tollroad project north of Dallas. It's a big media show with heavy construction equipment, previews of cashless highway speed electronic tolling, and a gaggle of local politicians jostling for microphone time. read more »
NTTA says moving to financial close on SH121 concession with TxDOT - bridge financing needed
Posted Thu, 2007-11-08 13:42
The North Texas Tollway Authority (NTTA) say they are moving toward a scheduled financial close on the SH121 toll concession with TxDOT which requires a $2.5b upfront payment to the state. The deadline precludes the traditional public authority method of putting in place permanent longterm bonds so NTTA is issuing Bond Anticipation Notes (BANs). These are bridge financing between the deadline for payment to TxDOT and their ability to sell longterm bonds.
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