MTA Transportation Revenue Refunding
Green Bonds, Series 2018B (Climate
Bond Certified)

New York Metropolitan Transportation Authority

Invest in New York Green Bonds! These bonds support the transit and commuter systems, bus operations, bridges and tunnels in New York City and its seven NY-metropolitan counties. MTA's Series 2018B Bonds are Climate Bond Certified by Sustainalytics, and proceeds will be used to refund certain outstanding bonds and pay for certain costs of financing.


Issuance characteristics
  • Refunding
  • Not callable
  • Federally tax exempt
  • Revenue
  • Negotiated sale

About this bond issuance

  • Purpose

    Proceeds from the Series 2018B Bonds will refund outstanding Transportation Revenue Bonds and Dedicated Tax Fund Bonds and pay certain costs of financing, legal and miscellaneous expenses.

  • Obligor

    Metropolitan Transportation Authority ("MTA"), a public benefit corporation of the State of New York.

  • Issuer

    Metropolitan Transportation Authority ("MTA"), a public benefit corporation of the State of New York.

  • Authority

    MTA was created by special New York State legislation in 1965, as a public benefit corporation, which means that it is a corporate entity separate and apart from the State, without any power of taxation. MTA has responsibility for developing and implementing a single, integrated mass transportation policy for MTA's service region, which consists of New York City and the seven New York metropolitan-area counties of Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk and Westchester. MTA issues debt obligations to finance a substantial potion of the capital costs of these systems.

  • Security

    MTA's pledged transportation revenues from Transit and Commuter System operations, MTA Bus operations, MTA Bridges and Tunnels operating surplus, subsidies from State and local governmental entities and certain other sources.

  • Trustee

    The Bank of New York Mellon, New York

  • Special attributes

    • Series 2018B Bonds are green bonds and have been approved as Climate Bond Certified, based on the Standard Verification Letter provided by Sustainalytics.
    • This certification is a voluntary verification initiative which allows the MTA to demonstrate to the investor market, the users of MTA's transit and commuter systems and other stakeholders that the Series 2018B Bonds meet international standards for climate integrity, management of proceeds and transparency.
    • Sustanalytics' factual findings assessed that $11.3 billion, which has been expended as of the date of verification on eligible projects included in MTA's 2010-2014 transit and commuter capital program, conform to the Climate Bonds - Low Carbon Transport Standard.

  • Sale conditions

    Retail Order Period: Wednesday, August, 15, 2018

About the issuer

Contact information

Ratings

Ratings

A

S&P

A1

Moody's

AA-

Fitch

Financing team

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