Triborough Bridge and Tunnel
Authority (MTA Bridges & Tunnels) General
Revenue Refunding Bonds, Series 2018C

New York Metropolitan Transportation Authority

Invest in critical New York transit by purchasing bonds to support MTA Bridge and Tunnel infrastructure. Proceeds from the Series 2018C Bonds will be used to refund certain outstanding bonds and to pay financing, legal and miscellaneous expenses.


Issuance characteristics
  • Refunding
  • Contains callable maturities
  • Federally tax exempt
  • Revenue
  • Negotiated sale

About this bond issuance

  • Purpose

    The Series 2018C Bonds are being issued to refund certain outstanding indebtedness of MTA Bridges and Tunnels, and pay certain financing, legal and miscellaneous expenses.

  • Obligor

    Triborough Bridge and Tunnel Authority, a public benefit corporation of the State of New York.

  • Issuer

    Triborough Bridge and Tunnel Authority, a public benefit corporation of the State of New York.

  • Authority

    Triborough Bridge and Tunnel Authority, or MTA Bridges and Tunnels, is a public benefit corporation, which means that it is a corporate entity separate and apart from New York State (the State), without any power of taxation - frequently called a "public authority." MTA Bridges and Tunnels is empowered to construct and operate toll bridges and tunnels and other public facilities in New York City (the City). MTA Bridges and Tunnels issues debt obligations to finance the capital costs of its facilities and is empowered to issue debt obligations to finance the capital costs of the Transit and Commuter Systems operated by other affiliates and subsidiaries of the Metropolitan Transportation Authority, or MTA.

  • Security

    MTA Bridges and Tunnels receives its revenues from all tolls, rates, fees, charges, rents, proceeds of use and occupancy insurance on any portion of its tunnels, bridges and other facilities, including the net revenues of the Battery Parking Garage, and MTA Bridges and Tunnels' receipts from those sources, after payment of MTA Bridges and Tunnels' operating expenses, are pledged to the holders of the Bonds for payment.

  • Trustee

    U.S. Bank Trust National Association, New York, New York  

  • Sale conditions

    Retail Order Period: Wednesday, August 22, 2018

  • Retail Order Period Rules

    RETAIL ORDERS UP TO $1,000,000 WILL BE ACCEPTED.  ALL RETAIL ORDERS THAT EXCEED $1,000,000 ARE SUBJECT TO APPROVAL BY THE AUTHORITY.  ALL RETAIL ORDERS, INCLUDING INDIVIDUAL, BANK TRUST AND INVESTMENT ADVISORS, MUST PROVIDE ZIP CODES.

About the issuer

Contact information

Ratings

Ratings

AA-

S&P

Aa3

Moody's

AA-

Fitch

Financing team

Neighborly Securities
Neighborly is a selling group member on this issuance.
Underwriters
Municipal Advisors
Bond Counsel