The Grand Parkway Transportation Corp., created to finance construction of a highway around Houston, is set to sell about $2.9 billion of toll-revenue debt in mid-July.
It is the first borrowing for the agency and it would be the biggest sale this year in the $3.7 trillion municipal market, data compiled by Bloomberg show. Goldman Sachs & Co. will underwrite the deal.
Proceeds will finance segments of the Grand Parkway project, a 180-mile (290-kilometer) loop around the Houston metropolitan area. The city is the nation’s fourth-largest by population, with about 2.2 million residents.
Mark Cross, a spokesman for the Texas Department of Transportation, didn’t immediately respond to a telephone message and e-mail seeking comment.
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