Tom Feeney News
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New Jersey Turnpike Authority’s biggest tax-exempt borrowing since 2000 is poised to benefit from the lowest relative borrowing costs in almost four years for municipal securities rated below AAA.
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The eastern spur of the New Jersey Turnpike was closed this morning after a state trooper crashed through a guardrail and drove off the road.
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The New Jersey Turnpike Authority ’s credit outlook was lowered to negative from stable by Moody’s Investors Service, which noted the “siphoning” of toll money for projects outside the system.
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New Jersey Governor Chris Christie defended the hiring of his two rejected state Supreme Court nominees for government jobs, saying experience, not patronage, got them their new positions.
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The New Jersey Turnpike Authority is attempting its first global debt-marketing campaign for its $1.5 billion Build America Bond sale on Dec. 6, as it hopes to attract international buyers for the U.S.-subsidized securities.
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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.
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The New Jersey Turnpike Authority , which gives about $26 million a year to the state’s transport budget, is selling $1.5 billion in Build America Bonds, the week’s largest offering, as increased sales of the taxable debt pushed yields to the highest in almost eight months.
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Revenue from New Jersey’s toll roads fell $45 million short of projections this year through September as high gasoline prices, joblessness and storms kept drivers off the New Jersey Turnpike and Garden State Parkway.
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The U.S. Internal Revenue Service is auditing $1.375 billion in Build America Bonds issued by the New Jersey Turnpike Authority in April 2009.
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