The Metropolitan Washington Airports Authority announced on Friday that it will issue up to $1.3 billion of Dulles Toll Road revenue bonds in early August.

The deal is one of the first steps toward financing a $5.2 billion project to connect the Washington Metrorail system to Dulles International Airport. The Series 2009 bonds will be secured by toll revenue from the roadways that the MWAA will control to finance the Metrorail extension.The bonds have not yet been rated and a preliminary official statement has not been released.

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