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Article: MBIA Insures $373 Million of $3.0 Billion Toll Road Bond Issuance.
- Article from:
- Business Wire
- Article date:
- April 3, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARMONK, N.Y. -- MBIA Insurance Corporation, a subsidiary of MBIA Inc. (NYSE: MBI), today announced it has guaranteed $373 million of a $3.0 billion bond issued by the North Texas Tollway Authority (NTTA). Proceeds will be used by the NTTA to refund certain outstanding bonds and to refinance outstanding short-term debt issued in 2007, which funded the $3.2 billion upfront payment to the North Texas region for State Highway (SH) 121. The SH 121 is the sixth toll facility in the NTTA system and a crucial addition to the transportation infrastructure of the Dallas-Ft. Worth Metroplex. As a "toll road without toll booths," drivers can either pay by toll tag or by invoice - ...