Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

N.J. Turnpike 30-Year Build Americas Offered at 288 Basis Points

New Jersey Turnpike Authority’s $1.5 billion sale of Build America Bonds, this week’s largest scheduled sale, is being offered at yields of about 2.88 percentage points above 30-year Treasuries, according to a person with knowledge of the deal.

The taxable bonds, which are being marketed worldwide, are scheduled for formal pricing tomorrow, according to Tom Feeney, a spokesman for the Turnpike Authority. The agency’s only other Build America issue, a $1.375 billion deal in April 2009, priced to yield 3.7 percentage points, or 370 basis points, above comparable Treasuries, data compiled by Bloomberg shows.

“It seems a bit tight, but is probably close to where it needs to be to get the deal done,” Alan Schankel, managing director of Philadelphia-based Janney Montgomery Scott LLC, which oversees $12 billion in fixed-income securities, said in an e-mail today. Janney isn’t underwriting the deal.

Michael DuVally, a spokesman for Goldman Sachs Group Inc., the senior manager of the deal, declined comment today.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.