The New York City Transitional Finance Authority intends to sell about $1.03 billion of future tax secured subordinate bonds this month.
The TFA plans a $650 million sale of tax-exempt, fixed-rate new-money bonds through negotiation on April 16, after a two-day retail period. Book-running senior manager Loop Capital Markets LLC will lead the underwriting syndicate with Barclays, Bank of America Merrill Lynch, Goldman Sachs & Co., JP Morgan, Morgan Stanley and Wells Fargo Securities serving as co-senior managers.
Also on April 16, the TFA intends to sell $200 million of taxable fixed-rate new money bonds through competitive bid.
Additionally, the TFA plans to price $180 million of tax-exempt new money variable-rate demand bonds on April 22.
The state legislature created TFA in 1997 to bypass city debt limits on general obligation issuance. It funds some of the city's capital programs.
