NJ Turnpike Authority Financing
Paving the Way to Success in New Jersey
The New Jersey Turnpike Authority keeps traffic safe and efficient for hundreds of thousands of drivers each day on the Turnpike and the Garden State Parkway, two of the nation’s busiest toll roads. Goldman Sachs continues to help the Authority finance its $7 billion Capital Improvement Program. In late 2010, Goldman Sachs served as senior manager for $1.85 billion of new money bonds. As the Authority progresses with its widening and improvement projects, we continue to serve as one of the Authority’s senior underwriters. We served as co-Senior manager on an $800 million refinancing in 2012 and a $1.4 billion new money bond sale in early 2013. The Authority is spending approximately $1 million each day on the Turnpike widening alone and studies have found that every $1 billion spent in construction supports or creates roughly 9,000 jobs. The financings that Goldman Sachs underwrites help the Authority widen and rebuild roads across New Jersey, strengthening the state’s economy and building the critical infrastructure to support many communities.