The New York City Transitional Finance Authority intends to sell $1 billion of future tax-secured subordinate bonds this month.
It plans to sell about $350 million of fixed-rate new-money bonds and $400 million of refunding bonds, both tax-exempt, on Oct.21 after a two-day retail period.
Book-running senior manager JPMorgan will lead the negotiated sale, with Barclays, Bank of America Merrill Lynch, Goldman Sachs & Co., Loop Capital Markets LLC Morgan Stanley, and Wells Fargo Securities the co-senior managers.
Also on Oct. 21, the TFA will sell $250 million of taxable fixed-rate new money bonds by competitive bid, according to officials from the Mayor’s Office of Management and Budget and city Comptroller Scott Stringer.
The TFA, which the state legislature created in 1997, funds a portion of the city’s capital program.
