The Massachusetts Turnpike Authority may need to raise tolls again as it faces additional interest payments of $300,000 per month due to a mismatched swaption agreement.

MassPike officials plan to sell $126.7 million of variable-rate debt to refinance current fixed-rate bonds, a move that will better match the fixed-rate debt to a floating-to-fixed swaption tied to the Series 1997 B bonds. What is holding the authority back from selling the debt immediately is that it is looking to strengthen its revenue stream before heading to market.

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