CHICAGO — The Missouri Highways and Transportation Commission is gearing up to enter the market in mid-September with a $600 million Garvee sale to fund projects under the state’s Safe and Sound Bridge program that includes the upgrading or reconstruction of 802 bridges statewide.

The grant anticipation revenue vehicle bonds, which securitize future federal transportation grants the state will receive, will have final maturities out to 24 years, covering four cycles of federal multi-year transportation spending reauthorization. The current law expires at the end of September.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.