Metropolitan Transportation Authority, N.Y.'s 2008B-1 revenue bonds have mandatory tender

By Marisa Wong

Madison, Wis., Oct. 14 - Metropolitan Transportation Authority of New York said its $93.5 million subseries 2008B-1 transportation revenue bonds due Nov. 15, 2016 are subject to mandatory tender for purchase on Nov. 15.

The bonds will be purchased at par plus accrued interest to the purchase date.

The mandatory tender is due to conversion of the bonds to a fixed-rate mode from a term-rate mode.

The Bank of New York Mellon is the trustee and tender agent.

Based in New York City, the authority is responsible for public transportation in the state of New York. Its affiliated agencies include New York City Transit, Long Island Rail Road, Long Island Bus, Metro-North Railroad, Bridges and Tunnels, MTA Bus and Capital Construction.

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