New York City Transitional Finance's 2003B future tax secured bonds have mandatory tender

By Marisa Wong

Madison, Wis., July 29 - New York City Transitional Finance Authority gave notice that its $482.49 million 2003 series B future tax secured refunding multi-modal bonds due Feb. 1, 2029 are subject to mandatory tender for purchase on Aug. 23.

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 on Aug. 23.

The Bank of New York Mellon is the tender agent.

The authority is responsible for funding a portion of New York City's capital program.

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