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Metropolitan Transportation Authority plans $178.7 million green bonds
By Angela McDaniels
Tacoma, Wash., Jan. 13 – The Metropolitan Transportation Authority of New York plans to price $178,685,000 of series 2017A transportation revenue green bonds during the week of Jan. 23, according to a preliminary official statement.
The Climate Bond Certified issue is expected to have serial bonds and two tranches of term bonds.
The issuer expects to use the proceeds to retire series 2016A-2 transportation revenue bond anticipation notes and, subject to market conditions, may refund outstanding transportation revenue bonds.
The bonds will be callable at the issuer’s option. They will also be subject to mandatory sinking fund redemption.
Jefferies LLC is the bookrunner. Also in the syndicate are Cabrera Capital Markets, LLC; Drexel Hamilton, LLC; Stern Brothers & Co.; BofA Merrill Lynch; Citigroup Global Markets Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Ramirez & Co., Inc.; Siebert Cisneros Shank & Co., LLC; Loop Capital Markets LLC; Morgan Stanley & Co. LLC; PNC Capital Markets LLC; RBC Capital Markets LLC; Williams Capital Group, LP; Academy Securities; Alamo Capital; Barclays; Blaylock Beal Van, LLC; BNY Mellon Capital Markets; Fidelity Capital Markets; FTN Financial Capital Markets; KeyBanc Capital Markets Inc.; Raymond James & Associates; Rice Financial Products Co.; Stifel, Nicolaus & Co. Inc. and TD Securities (USA) LLC.
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