Metropolitan Transportation, N.Y., preps $500 million green bond sale

By Sheri Kasprzak

New York, May 16 – The Metropolitan Transportation Authority of New York is set to price $500 million of series 2016B dedicated tax fund climate bond certified green bonds on Thursday, according to a preliminary official statement.

The offering will be conducted in two tranches, but the breakdown was not immediately available.

The bonds will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager. The co-senior managers are Drexel Hamilton LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC. The co-managers are Citigroup Global Markets Inc., Goldman, Sachs & Co., Jefferies & Co., J.P. Morgan Securities LLC, Ramirez & Co. Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC, Academy Securities Inc., Barclays, BNY Mellon Capital Markets Inc., Cabrera Capital Markets LLC, Duncan-Williams Inc., Estrada Hinojosa & Co. Inc., Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, KeyBanc Capital Markets Inc., M&T Securities Inc., Mesirow Financial Inc., Oppenheimer & Co. Inc., Piper Jaffray & Co., PNC Capital Markets LLC, Raymond James/Morgan Keegan, Rice Financial Products Co., Roosevelt & Cross Inc., Stern Brothers Inc., Stifel, Nicolaus & Co., TD Securities (USA) LLC, US Bancorp Investments Inc. and Williams Capital Group LP.

The maturities have not been set.

Proceeds will be used to retire the authority’s series 2015A dedicated tax fund bond anticipation notes and refund existing bonds.

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