The New York City Transitional Finance Authority heads to market this week with over $1 billion of building aid revenue bonds that will be used to fund education capital projects and refund outstanding bonds.
Supply-stared muni buyers are singing “I love New York” as some of the biggest muni bond sales are coming from the Empire State and the Big Apple.
In one of the most interesting deals, the New York City Transitional Finance Authority is selling over $1 billion of building aid revenue bonds.
Proceeds from these BARB sales will be used to fund educational capital projects.
New York City has over 1 million school children in 1,800 schools with about 75,000 teachers and 145,000 support staff.
The city now has a Universal Pre-K for 4-year-olds and mayor Bill de Blasio plans a new program for 3-year-olds: 3k For All.
The TFA is a public benefit corporation whose purpose is to fund part of the city’s capital program.
Since 2008, the TFA has sold over $45 billion of bonds.