Bermuda-based Assured Guaranty Corp., the triple-A rated financial guaranty subsidiary of Assured Guaranty Ltd., is set to help fund a new highway in Texas after it guaranteed $130 million of convertible capital appreciation bonds for the North Texas Toll Authority (NTTA).

"We are pleased to participate in such a significant transaction for the State of Texas and Dallas-Fort Worth area," said Bill Hogan, senior managing director of Assured's Public Finance Group. "Assured's financial guaranty will help provide NTTA's investors with both credit protection and liquidity during this ever-changing market environment."

The $130 million of insured bonds will help fund the construction of the NTTA's State Highway 121 project. The State Highway 121 project will connect Dallas' two primary north/south arteries, Interstate 35 and US 75, and provide a connection for north Dallas residents to the Dallas-Fort Worth International Airport.