New York Transportation arranges $850 million American Airlines bonds

By Sheri Kasprzak

New York, June 6 – The New York Transportation Development Corp. is set to price $850 million of series 2016 special facility revenue bonds for American Airlines Inc. on Tuesday, according to a sales calendar.

The bonds (//BB) will be sold through senior manager Citigroup Global Markets Inc.

The bonds are due 2017 to 2021 with term bonds due in 2026 and 2031.

Proceeds will be used to refund the corporation’s series 2002 and 2005 special facility revenue bonds, which were issued to finance the development of Terminal 8 at JFK Airport.

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