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

  • Texas highway project tackles congestion
    April 10, 2012
    A new highway project in Texas will tackle peak congestion
    Read More
  • New northern relief road for Moscow
    August 20, 2015
    New Concession Company to build northern relief road of Moscow Kutuzov Avenue – Eugene Gerden writes New Concession Company has won a tender for the building of the Northern relief road of Kutuzovsky Avenue, a major radial avenue in the Russian capital Moscow. The firm is part of Leader company (one of Russia's largest management companies), owned by Yuri Kovalchuk, a well-known Russian businessman, who is reportedly close to Russia’s president Vladimir Putin. It is planned that the building of the n
    Read More
  • Costa Rica to replace Conavi with a National Infrastructure Institute
    March 14, 2016
    Amid concerns over the efficiency of Costa Rica’s highways agency Conavi, the authority has been given more time to provide details on expansion of Route 32, according to the La Republica newspaper. Conavi has been at loggerheads with the Treasury Inspector's Office which wants Conavi to move faster and authorise a contract for the expansion of road between Rio Frio and Limon granted to China Harbour Engineering Company. China Harbour has been requesting further details about the US$395 million projec
    Read More
  • Texas highway project tackles congestion
    February 20, 2012
    A new highway project in Texas will tackle peak congestion
    Read More

Highlighted Content