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

  • Export focus for XCMG, with Latin America as key territory
    January 6, 2017
    Exports are crucial to XCMG’s growth and its aim to becoming a dominant player in the worldwide construction machinery market – Mike Woof writes One of China’s biggest construction equipment manufacturers, XCMG has a high profile, and particularly in the country’s home market. XCMG is a leader in key equipment categories such as concrete pumping and lifting technologies. The firm’s 4,000tonne crawler crane introduced two years ago has already proven its worth in a massive industrial construction appl
    Read More
  • Virginia project for Parsons
    June 28, 2016
    Parsons has won a deal to design and installation of the nation’s first all-lane, dynamic-priced tolling system on a 16km segment of Interstate 66 in Virginia. This stretch of highway runs from Interstate 495, the Capital Beltway, to US Route 29 in Rosslyn, Virginia. Dynamic tolling, able to adjust toll pricing to demand, will operate in the peak travel direction during weekday rush hours. This will help lower traffic congestion into and out of US capital Washington, DC.
    Read More
  • ARTBA sees growth for US transport construction
    December 5, 2017
    Steady growth in the US market for transport infrastructure construction in 2018. This prediction comes from a new report by the American Road & Transportation Builders Association (ARTBA). The report suggests that the US transportation infrastructure market will rebound slightly next year, following a 2.8% drop in 2017.
    Read More
  • Finnish Motorway Finally finished: Finland's M1
    July 23, 2012
    It has taken a long time to complete, but a vital motorway link is open to traffic as Heikki Harri reports After almost 50 years of construction, the M1 motorway linking Helsinki, the Finnish capital city and Turku, the country's old capital in the southwest, is finally completed. It did not take all 50 years of construction but the first section from Helsinki towards the west was constructed in the mid -1960s. Then there was a pause until mid-1990s when the works resumed section by section. The final sect
    Read More

Highlighted Content