With a planned $85.7 million offering Wednesday, the Port Authority of New York and New Jersey will stick with its strategy of doing smaller but more frequent competitive deals, given that the market remains challenging for bigger bond issues.

"We used to do somewhere between $300 million to $500 million at a time," said Port Authority treasurer Ann Marie Mulligan. "For the time being, we plan to do smaller issues. We've been watching the competitive sales since the latter part of last year and it's starting to pick up in principal amount."

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