The New York City Transitional Finance Authority will competitively sell $1.35 billion of Fiscal 2018 Series A future tax secured tax-exempt and taxable subordinate bonds on Tuesday, Aug. 8, the TFA announced on Friday.

Proceeds of the sale will be used to fund capital projects.

Alan Anders, TFA Executive Director
Alan Anders, TFA Executive Director Bloomberg News

The separate bond sales consist of:

  • $180.915 million of Subseries A-1 tax-exempts;
  • $407.205 million of Subseries A-2 tax-exempts;
  • $411.88 million of Subseries A-3 tax-exempts;
  • $124.055 million of Subseries A-4 taxables; and
  • $225.945 million of Subseries A-5 taxables.

Also on Aug. 8, the TFA intends to reoffer about $162 million of Fiscal 2018 Series 1 fixed-rate tax-exempts via competitive bid to convert existing floating-rate bonds into fixed-rates.

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Chip Barnett

Chip Barnett

Chip Barnett is a journalist with more than 40 years of experience. Barnett is currently Senior Market Reporter for The Bond Buyer.