In the latest installment of Muni Minute The Bond Buyer's 60-second video series that examines a top municipal market story that will have an impact in the coming week we examine the largest deals of the upcoming $11.4 billion weekly calendar, both from the Empire State: the MTAs $1.06 billion of Hudson Rail Yards trust obligation and NYC TFAs $1.05 billion of negotiated and competitive sales. Also in the Big Apple, a hearing is set for Thursday on a plan to refinance more than $1 billion of bonds originally for the construction of the new Yankee Stadium.
VOICE OVER: With kids now back to school, municipal market participants will be back at work and the market is expected to be surging with issuance estimated at $11.4 billion, including two deals greater than $1 billion. Issuers from all over the country will be hitting the market, but the largest deals will come from New York City issuers. First, the MTA is expected to issue $1.06 billion of Hudson Rail Yards Trust obligations on Wednesday. On the same day, the NYC Transitional Finance Authority is scheduled to come with $1.05 billion, with an 800 million negotiated deal and two competitive deals totaling 250 million.
The city that never sleeps is also the city that always plans to issue bonds. Away from the primary market, but staying in the Big Apple, the NYC Industrial Development Agency has scheduled a public hearing for Thursday to meet about refinancing more than $1 billion of bonds that was originally used to finance the construction of the new Yankees stadium. I'm Aaron Weitzman, and this has been your Muni Minute.