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TAMPA HILLSBOROUGH EXPRESSWAY AUTHORITY

SELMON EXPRESSWAY FACTS
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DAILY TRAVELERS
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LOCAL INVESTMENT
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MILLION TRANSACTIONS PER YEAR
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YEARS SERVING TAMPA BAY

THEA Loves Tampa Bay and We Want You to #LoveYourDrive

Latest News

MEDIA ALERTS

Media Alert

DRIVER ALERT!!!

December 12, 2017 - Tampa, Fla. – DRIVER ALERT!!! The Reverse Express Lanes (REL) will be CLOSED on Monday, December 18th, and Tuesday, December 19th from 10 am – 3 pm for testing of the CV Pilot infrastructure and in-vehicle equipment.

We apologize for the inconvenience.

To learn more about the CV Pilot, please visit https://www.tampacvpilot.com/.

For more information, call 813.272.6740 or email [email protected]

***** PUBLIC NOTICE *****

The Tampa-Hillsborough County Expressway Authority gives notice of its Series 2017B/C Bonds Pre-Closing Meeting where THEA Board Chairman and Secretary will be signing the bond documents.

Location: 1104 East Twiggs Street, Suite 300, Tampa, FL 33602

Date: Wednesday, December 20, 2017

Time: 1 pm

Media Alert

THEA Completes Bond Sale for Refinancing

December 11, 2017 - Tampa, Fla. – The Tampa Hillsborough Expressway Authority (THEA) is pleased to announce that it was able to sell $152 million of bonds to advance refund its outstanding Series 2012B Bonds which generated savings of over $15 million in debt service payments, as well as issue $36 million of bonds to fund two improvement projects in an attractive rate environment.

“This second bond issuance within a year shows the strength of THEA’s financial condition,” said Vince Cassidy, Chairman of THEA’s Board of Directors. “This transaction demonstrates the high level of confidence investors have with THEA’s cash flow, its leadership team and our community. Investor orders for this bond issue, and our Selmon Extension bonds earlier this year were significantly oversubscribed.” Cassidy continued.

In early November when the tax reform bill was released it included an elimination of advance refunding effective January 1, 2018. THEA reacted swiftly and prepared to complete the advance refunding by year end. On November 21st THEA presented to Standard & Poor’s (S&P) Global Ratings and on November 28th THEA presented to Moody’s Investors Service (Moody’s). On December 5th, THEA received rating confirmations of “A+” from S&P and “A2” from Moody’s. The ratings reflect THEA’s historical and projected strong debt service coverage resulting from continued revenue growth.

“THEA is always looking for opportunities to take advantage of the market and being able to capture nearly 11% debt service savings through an advance refunding, obtain new money at very low rates, and still maintain a high debt service coverage ratio is an accomplishment that bolsters THEA’s capital management program” stated Amy Lettelleir, THEA’s Chief Financial Officer.

Proceeds from this bond sale will provide funds that enable the acceleration of the South Selmon Expressway Improvement Project and the Meridian Ultimate Improvement Project, both are vital to THEA’s commitment to provide safe and reliable transportation services to the Tampa Bay community.

For more information, call 813.272.6740 or email [email protected]

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