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

  • Final beam for Gerald Desmond Bridge replacement
    May 1, 2020
    The US$1.47 billion project was started in 2013 and open later this year.
    Read More
  • India rushing to improve its highway system
    February 9, 2012
    Despite the world economic slowdown, India still seems in a rush to improve its highway system as Patrick Smith reports. Later this year India will be seen by hundreds of millions worldwide when the country's capital New Delhi hosts its biggest event ever.
    Read More
  • Fluor and ACS Infrastructure Canada win Gordie Howe Bridge deal
    October 2, 2018
    Bridging North America will build the Gordie Howe Bridge, named after a famous Canadian ice hockey player and leading scorer A partnership including Fluor Canada and ACS Infrastructure Canada has been chosen to design, build, finance, operate and maintain the Gordie Howe International Bridge project. The client, Windsor-Detroit Bridge Authority (WDBA), announced the appointment of Bridging North America group in the Canadian city of Windsor, across the Detroit River from Detroit in the US state of Michig
    Read More
  • Road user charging to pay for road improvements?
    February 20, 2012
    What is the current situation with Russian roads? It is an objective answer to this question that is contained in the official report of the Federal State Statistics Service for 2009. Here it states: "...public roads are of poor quality: 8.4% of roads accounted for groundwater, nearly a third of roads are gravel, rubble or cobblestone.
    Read More

Highlighted Content