PORT AUTHORITY OF N.Y./N.J. RAISES $325 MILLION IN BONDS

PORT AUTHORITY OF N.Y./N.J. RAISES $325 MILLION IN BONDS    The port authority of New York and New Jersey has raised $325 million through the sale of consolidated bonds.
   The proceeds of the bonds will be used for capital projects in connection with facilities of the port authority, and may also be used for refunding previous bonds.
   Bonds for an amount of $250 million, at interest rates ranging from 4.0 to 5.0 percent a year, were awarded to Salomon Smith Barney. They are due from November 2007 to November 2032.
   Another $75 million of bonds were also awarded to Salomon Smith Barney, at interest rates ranging from 1.40 to 4.0 percent. They are due to be repaid from November 2003 to November 2015.
   The bonds received an A1 rating from Moody’s Investors Service and AA- from Standard & Poor’s.