New York City Transitional coordinates $1.05 billion subordinate bonds

By Sheri Kasprzak

New York, July 8 – The New York City Transitional Finance Authority is expected to price $1.05 billion of series 2017A future tax secured subordinate bonds on Tuesday, said a preliminary official statement.

The deal includes $800 million of series 2017A-1 tax-exempt bonds, $186,905,000 of series 2017A-2 taxable bonds and $63,095,000 of series 2017A-3 taxable bonds.

The bonds will be sold on a negotiated basis with Siebert Brandford Shank & Co. LLC as the senior manager. The co-managers are BofA Merill Lynch, Jefferies & Co., Ramirez & Co. Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC, Goldman, Sachs & Co., Loop Capital Markets LLC, Wells Fargo Securities LLC, Barclays, BNY Mellon Capital Markets LLC, Drexel Hamilton LLC, Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, Oppenheimer & Co., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC, U.S. Bancorp Investments Inc., Academy Securities Inc., Blaylock Beal Van LLC, Bownick Capital Partners LLC, FTN Financial Capital Markets, Hilltop Securities Inc., PNC Capital Markets LLC, Rice Financial Products Co., Stern Brothers & Co. and The Williams Capital Group LP.

The 2017A-1 bonds are due 2018 to 2042. The 2017A-2 bonds are due 2020 to 2028 and the 2017A-3 bonds are due 2020 to 2028.

Proceeds will be used to finance transportation capital projects.

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