New Jersey officials are working on issuing smaller tranches of New Jersey Transportation Trust Fund Authority debt than in previous years to better match current market conditions.

Officials yesterday approved up to $1.6 billion of debt to help support road, bridge, and mass transit capital projects throughout the state. The NJTTFA typically sells $1.2 billion or more of new-money bonds each year in one fall transaction. However, current disruptions in the municipal market now require state officials to chop the approved borrowing into smaller tranches to achieve better rates.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.