The New York City Transitional Finance Authority sold $1 billion in new money and refunding bonds, including $650 million in new money bonds, $250 million in refunding bonds -- both tax-exempt and fixed-rate --and $100 million in taxable qualified school construction bonds.

The TFA, which finances a portion of the city’s capital projects, received about $177 million of retail orders for the two-day retain period that preceded Wednesday’s sale. According to a spokesman for city Comptroller John Liu, strong investor demand made it possible to reduce yields by one basis point in the 2025 through 2034 maturities, and two basis points in the 2036 maturity.

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