Overview

Investor Relations Overview

The Toll Roads were built with virtually no taxpayer dollars. They are primarily funded through the sale of bonds to private and institutional investors, supplemented with development fees. All toll and fee revenues go toward retiring the debt, funding additional improvements and covering costs to operate toll collection. Nonrecourse revenue bonds were sold, so taxpayers and the member agencies are not responsible for repaying the debt.


To view financial video, click here.

Latest Investor Relations News:


December 12, 2013 - The Foothill/Eastern Transportation Corridor Agency (F/ETCA) - which manages and operates the 133, 241 and 261 Toll Roads in Orange County, Calif. - has successfully refinanced $2.3 billion in outstanding debt that was originally issued in 1999.

To read the press statement in its entirety, click here.


July 3, 2013 - At its June meeting, the Foothill/Eastern Transportation Corridor Agency (F/ETCA) Board of Directors voted to approve the issuance of Toll Road Refunding Revenue Bonds with related expenses in order to refinance Foothill/Eastern Toll Road Revenue Refunding Bonds, Series 1999, and approving certain documents and authorizing certain actions in connection therewith.

To read the board report in its entirety, click here.


June 10, 2013 - The Foothill/Eastern Transportation Corridor Agency (F/ETCA), which manages and operates the 133, 241 and 261 Toll Roads in Orange County, Calif., today announced that it has received investment grade ratings from both Standard & Poor's and Moody's Investors Service on its proposed refinancing of outstanding debt issued in 1999.

To read the press statement in its entirety, click here.


December 20, 2012 - The Transportation Corridor Agencies (TCA) respond to reports that state's treasurer's office has launched a formal inquiry into its financial practices and viability.  TCA continues to be, as it has always have been, completely transparent.  Financial documents are posted on the TCA website and reports on the agencies' financial condition are regularly reported publicly to the Boards of Directors.

To read the press statement in its entirety, click here.


December 14, 2012 -- The Transportation Corridor Agencies (TCA) today announced that its Foothill/Eastern Transportation Corridor Agency (F/ETCA) Board of Directors has approved a staff recommendation to develop various financial structures to refinance existing F/ETCA bonds with the goals of achieving present value savings, lowering annual debt service and increasing future flexibility.

Finance plans for the refunding, which may include a tender of the 1999 Convertible Capital Appreciation Bonds, are subject to future Board approvals and market conditions. Approval to issue bonds is currently scheduled for February 2013.

For more information, click here to read the corresponding staff report or PowerPoint presentation.


November 8, 2012 -- The Foothill/Eastern Transportation Corridor Agency (F/ETCA) is moving forward with a bond restructuring plan that would help reduce the growth rate of debt service and provide financial flexibility in the future.

To assist in the refinancing, staff issued a request for qualifications in September for investment banking services. The F/ETCA Financial Ad Hoc committee interviewed five firms and recommended to the board appointing Barclays and Goldman, Sachs & Co. as joint book-running senior managers. Along with the appointment of both firms, the board also selected Citi and Wells Fargo Securities as co-senior managers. To primarily market the bonds, the board also appointed as co-managers the following firms: Bank of America Merrill Lynch, Cabrera Capital Markets, LLC, De La Rosa & Co., Jeffries & Company, Inc., Morgan Stanley & Co., LLC, Piper Jaffray & Co.

The appointment of an investment banking team is needed to develop, in consultation with the F/ETCA's financial advisor, bond counsel and staff, an overall finance plan. The restructuring of the agency's debt will take advantage of its currently callable bonds and the historically low interest rate environment in order to meet financial objectives that will benefit the agency.

For more information, click here to read the corresponding staff reports.


Transportation Corridor Agencies Name Amy Potter CFO
On Nov. 30, 2012
, TCA announced that Amy Potter had been named Chief Financial Officer, responsible for establishing, maintaining and monitoring TCA's fiscal activities and long-term financial planning. Potter joined TCA in 2004 as assistant controller, became controller in 2005 and was promoted to director of Finance in 2011. Click here to learn more.