NYC Bonds

News

New York City Transitional Finance Authority Announces Details of its Upcoming Sale of $1.7 Billion Future Tax Secured Subordinate Bonds

July 11, 2025

New York, NY — The New York City Transitional Finance Authority (“TFA”) announced today the details of its upcoming sale of $1.7 billion future tax secured subordinate bonds, comprised of $1.5 billion of tax-exempt fixed rate bonds and $200 million of tax-exempt adjustable rate bonds. Proceeds from the sale will be used to fund capital projects.

Subject to market conditions, pricing for the fixed rate bonds will take place on Wednesday, July 23, 2025, via negotiated sale through TFA’s underwriting syndicate led by book-running lead manager Ramirez & Co., Inc., with BofA Securities, Jefferies, J.P. Morgan, Loop Capital Markets, RBC Capital Markets, Siebert Williams Shank, and Wells Fargo Securities serving as co-senior managers.

Retail investors will have priority in placing orders for the fixed rate bonds during a one-day retail order period on Tuesday, July 22, 2025.

Additionally, TFA intends to sell the adjustable rate bonds during the week of August 11, 2025 pursuant to a separate offering circular. The remarketing agent for the adjustable rate bonds is expected to be BofA Securities.

The Preliminary Offering Circular and investor presentation relating to the fixed rate bonds is expected to be available at www.bondlink.com/nyc-tfa on or about July 11, 2025.

Notice and Disclaimer

Under no circumstances shall the information on this website constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Offers to purchase securities may be made only through a registered broker-dealer and through an official statement.

The information contained on this website has been included for general informational purposes only and no person should make any investment decision in reliance upon the information contained herein.

Bonds may not be sold, nor may an offer to buy be accepted, prior to the time an Official Statement is delivered in final form. A definitive Official Statement with respect to any bonds will be made available concurrently with their sale. A Preliminary Official Statement for any bonds may be obtained from the firms listed on the cover of the Preliminary Official Statement and on this website.

Any Preliminary Official Statement relating to bonds included on the Upcoming Transactions page is provided only as a matter of convenience.

For investment advice on bonds, please contact your investment advisor.

No statement found on this website is incorporated by reference in any Official Statement for the bonds and no statement on this website is part of any Official Statement.

By choosing to continue and view the information on this website you are acknowledging that you have read and understood and accept the terms of this Notice and Disclaimer.

$288.59 billion
May
2025