The New York Metropolitan Transportation Authority financial staff yesterday defended their use of mandatory tender bonds as a way to get access to short-term rates at a time when the issuer cannot access the variable-rate market.

The MTA marketed $475 million of bonds on its Triborough Bridge and Tunnel Authority credit in two subseries at the end of January and on Feb. 11. The authority had initially planned to sell $350 million but increased the size of the deal in response to strong demand.

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