The Triborough Bridge and Tunnel Authority will offer a mandatory tender and purchase Tuesday of all three outstanding series of its variable-rate general revenue bonds, Series 2003 and 2005, totaling about $535 million.

The authority, a division of New York’s Metropolitan Transportation Authority, plans to restructure and remarket Series 2003B, 2005A and 2005B-2 bonds as nine subseries, terminating three standby-purchase agreements issued by troubled Dexia Crédit Local and substituting irrevocable direct-pay letters of credit from U.S. Bank National Association, the California State Teachers’ Retirement System and the California Public Employees’ Retirement System.

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