Metropolitan Transportation, N.Y., offers $700 million of notes

By Sheri Kasprzak

New York, March 15 – The Metropolitan Transportation Authority of New York is scheduled to price $700 million of series 2016A transportation revenue bond anticipation notes on March 22, according to a preliminary official statement.

The notes will be sold competitively with Public Financial Management Inc. as the financial adviser.

The deal includes $500 million of series 2016A-1 notes and $200 million of series 2016A-2 notes.

The 2016A-1 notes are due Oct. 1, 2016, and the 2016A-2 notes are due Feb. 1, 2017.

Proceeds will be used to finance transit and commuter projects.

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