News
New York City Transitional Finance Authority Announces Successful Sale of $250 Million Building Aid Revenue Bonds via Competitive Bid
The New York City Transitional Finance Authority (“TFA”) announced today the successful sale of $250 million of Building Aid Revenue Bonds (“BARBs”). Proceeds from the bond sale will be used to fund education capital projects.
The Fiscal 2020 Subseries S-1A bonds, comprised of approximately $125 million tax-exempt bonds maturing in 2021 through 2039, attracted eleven bidders with BofA Securities winning at a true interest cost of 2.655%. The cover bid from Citigroup was 2.663%.
The Fiscal 2020 Subseries S-1B bonds, comprised of approximately $125 million tax-exempt bonds maturing in 2040 through 2045 and in 2049, attracted ten bidders with BofA Securities winning at a true interest cost of 3.159%. The cover bid from Citigroup was 3.176%.