BRADENTON, Fla. — The North Carolina Department of Transportation next week closes on a $145.5 million deal believed to be the first of its kind to use stand-alone, grant anticipation revenue vehicle bonds as interim financing.

The Garvee bond proceeds are part of the financing for the $725 million, 19.7-mile Monroe Connector, which is the state’s second toll-road venture and is under construction.

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.