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

  • Tackling Florida’s highway congestion
    August 5, 2016
    Congestion is a major problem in certain areas of US state Florida. Large number of commuters and tourists means that central Florida’s Interstate 4 (I-4) highway suffers particularly from congestion. Its proximity to Disneyland means that the traffic often comes to a complete standstill. A 2012 report from the Texas Transportation Institute ranked Orlando 13th in the US for traffic congestion, with more than 1.5 million daily trips on I-4. The report estimates that each frustrated commuter wastes about 45
    Read More
  • Tackling Florida highway congestion
    October 4, 2016
    Congestion is a major problem in certain areas of US state Florida. Large number of commuters and tourists means that central Florida’s Interstate 4 (I-4) highway suffers particularly from congestion. Its proximity to Disneyland means that the traffic often comes to a complete standstill.
    Read More
  • Volvo CE sees sales increase 30% in first quarter of 2017
    April 25, 2017
    Volvo Construction Equipment reports sales up 30% in the first quarter of 2017 thanks to improving market conditions in all regions except South America. During the first three months of 2017 Volvo CE saw net sales jump by 30% to SEK 16,163 M (SEK 12,452 M in Q1 2016). Operating income was also positively impacted, rising to SEK 1,617 M, up significantly compared to SEK 341 M in the first quarter of 2016. Operating margin also saw good improvement, at 10%, compared to 2.7% in the same period the year before
    Read More
  • ARTBA’s research reveals US public supports infrastructure investment
    November 15, 2012
    According to the American Road & Transportation Builders Association (ARTBA), US voters are keen to see increased spending on infrastructure. ARTBA’s analysis suggests that voters approve nearly 70% of state and local transportation ballot initiatives, which is consistent with the results of the last four US elections. ARTBA tracked 31 measures overall; five were statewide initiatives and 26 were local. The measures would increase or extend funding for highways, bridges and transit. All of the seven bond in
    Read More

Highlighted Content