Garvees Get Senior Manager

The New Jersey Treasury Department last week announced that Merrill Lynch & Co. beat out nine other firms to serve as senior underwriter on an upcoming $270 million grant anticipation revenue vehicle bond deal.

Barclays Capital and Citi will be co-senior managers on the transaction.

Officials anticipate selling the 2009 New Jersey Transportation Trust Fund Authority Garvee bonds in the next month. Proceeds will help finance the replacement of two moveable bridges, intersection upgrades, and road widening.

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