The New York City Transitional Finance Authority sold $650 million in new-money building aid revenue bonds last week.
The sale included $550 million of fixed-rate, tax-exempt BARBs and $100 million of taxable qualified school construction bonds.
The TFA received $266 million of retail orders during a two-day period. At final pricing, yields on nine of the longer maturities were reduced by 2 basis points.
Final yields on the tax-exempt bonds ranged from 0.38% in the 2013 maturity — sold by sealed bid — to 4.5% in the 2041 maturity.
The winning bidder for the QSCBs, issued by competitive sale, was Morgan Stanley with a true interest cost of 4.799%.