The Triborough Bridge and Tunnel Authority is scheduled to sell $195.6 million of general revenue variable-rate refunding bonds on Thursday by competitive bid.

According to a preliminary official statement, the TBTA, part of New York’s Metropolitan Transportation Authority and known commonly as MTA Bridges and Tunnels, looks to replace a letter of credit with Germany’s Landesbank Baden-Württemberg, which intends to cease such transactions in the United States.

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