Tampa Hillsborough Expressway Authority wraps up bond sale
October 10, 2020 - The Tampa Hillsborough Expressway Authority has funding in hand for new capital projects after completing two bond issue deals. The Series A bonds, worth $20.16 million, will finance capital improvements to the expressway system, including work on the Lee Roy Selmon Expressway. The Series B bonds, worth $202.2 million, will refund all or part of an earlier bond issue from 2012. The combined new money financing and taxable advance refunding transaction generated $25 million of proceeds to advance capital projects while still lowering THEA’s annual debt service by $1.2 million for the next 15 years, a news release said. Moody's assigned an A2 investment-grade rating to the bonds with a stable outlook.