The Port Authority of New York and New Jersey plans to competitively market $300 million of federally taxable notes on Wednesday. The deal will be the largest competitive municipal debt sale since the market froze up in mid-September following the bankruptcy of Lehman Brothers.

The deal will also be the first note sale for the authority since 2006 when it sold $150 million of notes. The Port Authority consolidated notes Series ZZ will mature on Dec. 1, 2011, and are not subject to redemption prior to maturity.

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