Bonds for biggest US beltway road priced cheaper

The US$2.6 billion, 30-year municipal bonds issued to pay for the longest traffic beltway in America are reported to be priced cheaper at around $97, with a higher yield of 5.15%. Bloomberg claims the bonds for the Grand Parkway in Houston – a 290km (180 miles) road circling the city - could have been sold by the Texas Department of Transportation during a much healthier market period from as early as April this year. Also known as Texas State Highway 99, the Grand Parkway opened its first section in 1994.
July 22, 2013 Read time: 1 min
The US$2.6 billion, 30-year municipal bonds issued to pay for the longest traffic beltway in America are reported to be priced cheaper at around $97, with a higher yield of 5.15%.

Bloomberg claims the bonds for the Grand Parkway in Houston – a 290km (180 miles) road circling the city - could have been sold by the 3499 Texas Department of Transportation during a much healthier market period from as early as April this year.

Also known as Texas State Highway 99, the Grand Parkway opened its first section in 1994. When completed, it will be the longest beltway in the US, and the third loop within the Houston–The Woodlands-Sugar Land metropolitan area, with Interstate 610 being the inner loop, and Beltway 8 (Sam Houston Tollway) being the middle loop.
Finance & Funding Road Structures

For more information on companies in this article

Related Content

  • US road crashes increasing for 2015?
    August 19, 2015
    There is mounting concern in the US at the high number of crashes during 2015. For the first seven months of 2015, there has been a 14% increase in the number of traffic fatalities compared with the same period in 2014. The data shows that there were 18,630 road deaths in this period, with over 2.2 million serious injuries. This is a notable increase and should the trend continue it will mean that 2015 will have had the highest rate of road deaths since 2007. The cause (or causes) of the increase in road de
    Read More
  • The cost of crashes in the US
    May 25, 2023
    The financial cost of road crashes in the US places a heavy burden
    Read More
  • Kazakhstan’s London road show woos consortia for Almaty ring road
    March 2, 2015
    Kazak and EBRD officials visited London to highlight the possibility of a public-private partnership under the country’s revised PPP legal framework. David Arminas reports. To build a road, you go on the road, and that is what Kazakhstan did in London in mid-December. Representatives of more than 100 organisations, a mix of construction companies and financial institutions, attended the roadshow-style presentation to attract foreign capital for BAKAD, the Almaty Ring Road Concession. The message was that Ka
    Read More
  • Possible delays for Gordie Howe Bridge
    November 15, 2022
    The tolled six-lane cable-stayed bridge over the Detroit River will connect the city of Windsor in the Canadian province of Ontario with Detroit in the neighbouring US state of Michigan.
    Read More

Highlighted Content