New York's Metropolitan Transportation Authority intends to sell $1.3 billion of bonds including a $100 million remarketing, in January, finance manager Patrick McCoy told the MTA board's finance committee Monday.
January deals will include a $300 million new money offering of Triborough Bridge and Tunnel Authority general revenue bonds, led by book-running senior manager Goldman, Sachs & Co. Orrick, Herrington & Sutcliffe LLP and Bryant Rabbino LLP will be co-bond counsel.
Also, said McCoy, the MTA plans a $200 million transaction to pay off outstanding Series 2016A-2 bond anticipation notes, with Jefferies as senior manager. Nixon Peabody LLP and D. Seaton and Associates will be co-bond counsel.
Additionally, the authority, one of the largest municipal issuers with roughly $37 billion in debt, expects to issue $700 million of transportation revenue bond anticipation notes in January through competitive bidding. Proceeds, said McCoy, will finance approved transit and commuter projects. Nixon Peabody and D. Seaton will be co-bond counsel.
McCoy said the MTA will execute a mandatory tender and remarket $100 million of Subseries 2002D-2 transportation revenue variable rate refunding bonds because its current interest-rate period is set to expire. Book-running manager is RBC Capital Markets. Orrick, Herrington & Sutcliffe and Bryant Rabbino are co-bond counsel.
