NYC Bonds

Reports on City’s Economy and Finances Point to Potential Risks A report released by the Office of the Comptroller raises concerns about potential risks to New York City’s budget and...

Updated City Financial Information In the past month, the Comptroller’s Office released the City’s 2017 Comprehensive Annual Financial Report and its user-friendly companion, the 2017 Popular Annual Financial Report. The...

Investors have access to additional market information, thanks to the Municipal Securities Rulemaking Board, and the New York City Transitional Finance Authority successful sold nearly $1 billion of new money...

New York City conducted two major bond sales in September, both of which achieved unusually narrow spread levels to tax-exempt benchmarks – reflecting both tight municipal supply and strong investor...

$1.5 Billion Transitional Finance Authority Bond Sale The New York City Transitional Finance Authority (“TFA”) sold $1.5 billion of subordinate bonds via competitive sale on August 8. Proceeds from the...

To Our Investor Community: In July the New York City Transitional Finance Authority sold approximately $1 billion of tax-exempt refunding bonds and New York City sold approximately $960 million of...

To Our Investor Community: In June the New York City Transitional Finance Authority sold approximately $1.1 billion of tax-exempt and taxable new money bonds and the New York City Municipal...

To Our Investor Community: In May the Hudson Yards Infrastructure Corporation sold approximately $2.15 billion of tax-exempt and taxable refunding bonds and the Comptroller provided comments on New York City’s...

To Our Investor Community: In April the Mayor released his Executive Budget for the coming fiscal year and the New York City Transitional Finance Authority (“TFA”) sold $1.14 billion of...

To Our Investor Community: The first three months of 2017 have seen four bond sales by New York City and its related issuers.  All four bond issues refinanced outstanding debt...

To Our Investor Community: With no bond sales for NYC during the month of October, the financial highlight of the month is the release of the City’s Comprehensive Annual Financial...

To Our Investor Community: During the month of August, the City completed and closed its $1 billion GO new money bond sale referenced in our July investor letter.  There were...

To Our Investor Community: July 1st marked the beginning of the City’s 2017 fiscal year along with its $84.6 billion adopted budget. Both the New York City Transitional Finance Authority...

To Our Investor Community: The end of FY 2016 is approaching amid a flurry of activity in New York City finances. In addition to the City selling $800 million of...

To Our Investor Community: In April the Mayor released his Executive Budget for the coming fiscal year and the New York City Transitional Finance Authority (the “TFA”) sold $750 million...

To Our Investor Community: The month of March had a lot of activity with both City debt issuance and other City-related budget news.  The New York City Transitional Finance Authority...