Bond Sales - Recent Issues
About | Highway and Bridge Trust Fund | State Personal Income Tax |
General Revenue | General Revenue Junior Indebtedness Obligations
Report of Traffic Engineer: NYSTA T & R Report 
| Bond Sales: Current Issues | Recent Issues | Schedule of Debt: 2023 | 2022
Note: All bond issues are tax exempt unless otherwise noted in Title of bond issue.
- General Revenue Bonds, Series Q
- General Revenue Bonds, Series P
- 2022A State Personal Income Tax Revenue Bonds
- 2022B State Personal Income Tax Revenue Bonds
- 2022C State Personal Income Tax Revenue Green Bonds (Climate Bond Certified)
- General Revenue Bonds, Series O
- 2021A State Personal Income Tax Revenue Bonds (Transportation)
- General Revenue Bonds, Series N
- General Revenue Junior Indebtedness Obligations, Series 2019B
- General Revenue Refunding Bonds, Series M
- General Revenue Refunding Bonds, Series L
- General Revenue Junior Indebtedness Obligations, Series 2016A
General Revenue Bonds, Series Q
Par Amount: $520,145,000.00
New Money Generated: $00.00
Closing Date: October 22, 2024
Dated Date: October 22, 2024
First Maturity: January 1, 2026
Final Maturity: January 1, 2032
Interest Payment Dates: January 1 and July 1, commencing January 1, 2025
Call Provisions: N/A
TIC (True Interest Cost): 2.697777%
Purpose of Issue: (i) To refund certain outstanding Bonds, (ii) pay the Costs of Issuance of the Series Q Bonds.
Security: Pledge of revenues as established under the Bond Resolution.
Pricing Date:
Competitive Sale- 10/08/2024
Award – 10/08/2024
Ratings:
Moody’s = Aa3/Stable
S & P = A+/Stable
Bond Purchaser: JPMorgan Securities, LLC
Par Amount: $520,145,000
Bond Maturities: 01/01/2026 – 01/01/2032
Bond Counsel: Harris Beach PLLC
Co-Bond Counsel: Bryant Rabbino
Financial Advisor: Public Resources Advisory Group
Co-Financial Advisor: Frasca & Associates LLC
Trustee: The Bank of New York
General Revenue Bonds, Series P
Par Amount: $1,024,320,000
New Money Generated: $300,000,000
Closing Date: February 15, 2024
Dated Date: February 15, 2024
First Maturity: 01/01/2025
Final Maturity: 01/01/2054
Interest Payment Dates: July 1 and January 1, commencing July 1, 2024
Call Provisions: 07/01/2034 @ 100%
TIC (True Interest Cost): 3.686754%
Purpose of Issue: (i) To fund a portion of the Authority’s multi-year Capital Program, (ii) make a deposit to the Senior Debt Service Reserve Fund, (iii) fund capitalized interest on the Series P Bonds, (iv) refund certain outstanding Bonds, (v) purchase, through a voluntary tender process, certain outstanding Bonds, and (vi) pay the Costs of Issuance of the Series P Bonds.
Security: Pledge of revenues as established under the Bond Resolution.
Pricing Dates:
Retail– 01/29/2024
Institutional – 01/30/2024
Award –01/31/2024
Insured by: None
Ratings:
Moody’s = A1/Positive
S&P = A+/Stable
Bookrunner: J.P. Morgan
Co-Coordinating Manager: Siebert Williams Shank & Co., LLC
Co-Senior Managers:
BofA Securities
Goldman Sachs & Co. LLC
Jefferies
RBC Capital Markets
Wells Fargo Securities
SDVOB Managers:
Academy Securities, Inc.
AmeriVet Securities, Inc.
Drexel Hamilton, LLC
Co-Managers:
Barclays
Loop Capital Markets
Ramirez & Co., Inc.
Raymond James
Bond Counsel: Hawkins Delafield & Wood LLP
Underwriters’ Counsel: Harris Beach PLLC
Financial Advisor: Public Resources Advisory Group
Co-Financial Advisor: Acacia Financial Group, Inc.
Trustee: The Bank of New York Mellon
2022A State Personal Income Tax Revenue Bonds
Official Statement - Series 2022AB
Par Amount: $2,028,105,000
New Money Generated: $1,850,000,000
Closing Date: 07/28/2022
Dated Date: 07/28/2022
First Maturity: 03/15/2023
Final Maturity: 03/15/2052
Interest Payment Dates: March 15 and September 15, commencing September 15, 2022
Call Provisions: 03/15/2032 @ 100%
TIC (True Interest Cost): 3.942987%
Purpose of Issue: (i) financing, refinancing or reimbursing all or a portion of the costs of certain programs and projects within the State, (ii) refinancing certain State-supported debt previously issued by the Authority, (iii) repaying certain obligations relating to the PASNY’s energy efficiency program, and (iv) paying certain costs relating to the issuance of the Series 2022A Bonds.
Security: The bonds are payable from and secured by revenues in the Revenue Bond Tax Fund, subject to annual appropriation by the State Legislature. The Revenue Bond Tax Fund receives a statutory allocation of 50% of NYS personal income tax receipts.
Pricing Date:
07/13/2022
Award – 07/13/2022
Ratings:
S&P = AA+
Fitch= AA+
Co-Bond Counsel:
Nixon Peabody
D. Seaton and Associates, P.A., P.C.
Co-Financial Advisors:
Public Resources Advisory Group, Inc. (PRAG)
Backstrom McCarley Berry & Co., LLC
Trustee: The Bank of New York Mellon
2022B State Personal Income Tax Revenue Bonds
Official Statement - Series 2022AB
Par Amount: $141,800,000
New Money Generated: $0.00
Closing Date: 07/28/2022
Dated Date: 07/28/2022
First Maturity: 03/15/2024
Final Maturity: 03/15/2028
Interest Payment Dates: March 15 and September 15, commencing September 15, 2022
Call Provisions: 03/15/2032 @ 100%
TIC (True Interest Cost): 3.664625%
Purpose of Issue: (i) repaying certain obligations relating to the PASNY's energy efficiency program, and (ii) paying certain costs relating to the issuance of the series 2022B bonds.
Security: The bonds are payable from and secured by revenues in the Revenue Bond Tax Fund, subject to annual appropriation by the State Legislature. The Revenue Bond Tax Fund receives a statutory allocation of 50% of NYS personal income tax receipts.
Pricing Date:
07/13/2022
Award – 07/13/2022
Ratings:
S&P = AA+
Fitch= AA+
Co-Bond Counsel:
Nixon Peabody
D. Seaton and Associates, P.A., P.C.
Co-Financial Advisors:
Public Resources Advisory Group, Inc. (PRAG)
Backstrom McCarley Berry & Co., LLC
Trustee: The Bank of New York Mellon
2022C State Personal Income Tax Revenue Green Bonds (Climate Bond Certified)
Official Statement - Series 2022C
Par Amount: $732,305,000.00
New Money Generated: $750,000,000.00
Closing Date: 07/28/2022
Dated Date: 07/28/2022
First Maturity: 03/15/2052
Final Maturity: 03/15/2057
Interest Payment Dates: March 15 and September 15, commencing September 15, 2022
Call Provisions: 03/15/2032 @ 100%
TIC (True Interest Cost): 4.446505%
Purpose of Issue: (i) To finance, refinance or reimburse all or a portion of the costs of transportation projects for the Metropolitan Transportation Authority, and (ii) pay certain costs relating to the issuance of the Series 2022C Bonds.
Security: The bonds are payable from and secured by revenues in the Revenue Bond Tax Fund, subject to annual appropriation by the State Legislature. The Revenue Bond Tax Fund receives a statutory allocation of 50% of NYS personal income tax receipts.
Pricing Date:
07/21/2022
Award – 07/21/2022
Ratings:
S&P = AA+
Fitch= AA+
Co-Bond Counsel:
Nixon Peabody
D. Seaton and Associates, P.A., P.C
Co-Financial Advisors:
Public Resources Advisory Group, Inc. (PRAG)
Backstrom McCarley Berry & Co., LLC
Trustee: The Bank of New York Mellon
General Revenue Bonds, Series O
Par Amount: $549,480,000
New Money Generated: $450,000,000
Closing Date: October 7, 2021
Dated Date: October 7, 2021
First Maturity: 01/01/2023
Final Maturity: 01/01/2051
Interest Payment Dates: July 1 and January 1, commencing January 1, 2022
Call Provisions: 07/01/2031 @ 100%
TIC (True Interest Cost): 2.749486%
Purpose of Issue: (i) To fund a portion of the Authority’s Multi-Year Capital Program, (ii) make a deposit to the Senior Debt Service Reserve Fund, (iii) fund capitalized interest on the Series O Bonds, (iv) refund certain outstanding bonds, and (v) pay the Costs of Issuance of the Series O Bonds.
Security: Pledge of revenues as established under the Bond Resolution.
Pricing Dates:
Competitive Sale – 09/23/2021
Award – 09/23/2021
Insured by: None
Ratings:
Moody’s = A1
S&P = A
Group 1 Bond Purchaser: Barclays Capital Inc.
Par Amount: $261,985,000
Bond Maturities: 01/01/2023 – 01/01/2041
Group 2 Bond Purchaser: JPMorgan Securities, LLC
Par Amount: $290,065,000
Bond Maturities: 01/01/2042 – 01/01/2051
Bond Counsel: Harris Beach PLLC
Co-Financial Advisor: Public Resources Advisory Group and Acacia Financial Group, Inc.
Trustee: The Bank of New York Mellon
2021A State Personal Income Tax Revenue Bonds (Transportation)
Official Statement - Series 2021A
Par Amount: $1,954,570,000
New Money Generated: $2,000,000,000
Closing Date: 07/28/2021
Dated Date: 07/28/2021
First Maturity: 03/15/2023
Final Maturity: 03/15/2059
Interest Payment Dates: March 15 and September 15, commencing March 15, 2022
Call Provisions: 03/15/2031 @ 100%
TIC (True Interest Cost): 2.625416%
Purpose of Issue: (i)(A)To make grants to reimburse municipalities and other project sponsors throughout the State for qualifying capital expenditures for highway, bridge, and multi-modal projects in furtherance of established State aid programs, and (B) to finance or reimburse all or a portion of the costs of capital projects for transportation initiatives and certain projects related to the Metropolitan Transportation Authority, and (ii) to refund certain State Personal Income Tax Revenue Bonds previously issued by the Authority, and to pay certain costs relating to the issuance of the Series 2021A Bonds. The proceeds also may be used to finance other transportation projects as permitted under the program legislation and State Transportation Revenue Bond Resolution.
Security: The bonds are payable from and secured by revenues in the Revenue Bond Tax Fund, subject to annual appropriation by the State Legislature. The Revenue Bond Tax Fund receives a statutory allocation of 50% of NYS personal income tax receipts.
Pricing Date:
07/20/2021
Award – 07/20/2021
Ratings:
S&P = AA+
Fitch= AA+
Co-Bond Counsel:
Harris Beach PLLC
Hardwick Law Firm, LLC
Co-Financial Advisors:
Public Resources Advisory Group, Inc. (PRAG)
Acacia Financial Group, Inc.
Trustee: The Bank of New York Mellon
General Revenue Bonds, Series N
Par Amount: $450,000,000
New Money Generated: $450,000,000
Closing Date: March 5, 2020
Dated Date: March 5, 2020
First Maturity: 01/01/2033
Final Maturity: 01/01/2050
Interest Payment Dates: July 1 and January 1, commencing July 1, 2020
Call Provisions: 01/01/2030 @ 100%
TIC (True Interest Cost): 2.837811%
Purpose of Issue: To fund a portion of the Authority’s Multi-Year Capital Program, make a deposit to the Senior Debt Service Reserve Fund, fund capitalized interest on the Series N Bonds, and pay the Costs of Issuance of the Series N Bonds.
Security: Pledge of revenues as established under the Bond Resolution.
Pricing Dates:
Competitive Sale – 02/20/2020
Award – 02/20/2020
Insured by: None
Ratings:
Moody’s = A1/Stable
S&P = A/Stable
Group 1 Bond Purchaser: BofA Securities
Par Amount: $157,820,000
Bond Maturities: 01/01/2033 – 01/01/2040
Group 2 Bond Purchaser: JPMorgan Securities LLC
Par Amount: $292,180,000
Bond Maturities: 01/01/2041 – 01/01/2050
Bond Counsel: Harris Beach PLLC
Co-Financial Advisor: Public Resource Advisory Group and Acacia Financial Group, Inc.
Trustee: The Bank of New York Mellon
General Revenue Junior Indebtedness Obligations, Series 2019B
Official Statement - Series 2019B
Par Amount: $1,693,245,000.00
New Money Generated: $75,000.00
Closing Date: October 30, 2019
Dated Date: October 30, 2019
First Maturity: 01/01/2021
Final Maturity: 01/01/2053
Interest Payment Dates: January 1 and July 1, commencing July 1, 2020
Call Provisions: 01/01/2030 @100%
TIC (True Interest Cost): 3.254181%
Purpose of Issue: (i) to refund outstanding Junior Indebtedness Obligations, (ii) to fund or reimburse approximately $75 million of costs related to the Authority’s New NY Bridge Project, (iii) to fund capitalized interest on the Series 2019B Junior Indebtedness Obligations, (iv) to purchase a Reserve Credit Facility for the Series 2019B Subaccount for the Junior Indebtedness Debt Service Reserve Account, and (v) to pay the Costs of Issuance incurred in connection with the issuance of the Series 2019B Junior Indebtedness Obligations, including the premium on the insurance policy for certain maturities of the Series 2019B Junior Indebtedness Obligations as set forth in the O.S.
Security: Pledge of revenues and certain funds and accounts established under the Junior Indebtedness Resolution.
Insured by: Assured Guaranty Municipal Corp.
Pricing Dates:
Retail – 10/16/19
Institutional – 10/17/19
Award – 10/17/19
Ratings:
Moody's = A2/Stable
S&P = A- /Stable
Book-runner: Goldman Sachs & Co. LLC
Co-Coordinating Manager: Siebert Cisneros Shank & Co., LLC
Co-Senior Managers:
Citigroup
Morgan Stanley
RBC Capital Markets
J.P. Morgan
Barclays
Co-Managers:
Bank of America
Loop Capital Markets
Jefferies
Raymond James & Associates
Oppenheimer & Co.
Roosevelt & Cross, Inc.
Bond Counsel: Hawkins Delafield & Wood LLP
Underwriters' Counsel: Hawkins Delafield & Wood LLP
Financial Advisor: Public Resources Advisory Group
Trustee: The Bank of New York Mellon
General Revenue Refunding Bonds, Series M
Par Amount: $857,625,000.00
New Money Generated: $0
Closing Date: October 30, 2019
Dated Date: October 30, 2019
First Maturity: 01/01/2024
Final Maturity: 01/01/2042
Interest Payment Dates: July 1 and January 1, commencing July 1, 2020
Call Provisions: See Official Statement – Description of Series M Bonds
TIC (True Interest Cost): 3.199855%
Purpose of Issue: To provide funds to refund certain of the Authority's outstanding bonds, and to pay the Costs of Issuance of the Series M Bonds.
Security: Pledge of revenues as established under the Bond Resolution.
Pricing Dates:
Retail – 10/16/19
Institutional – 10/17/19
Award – 10/17/19
Insured by: None
Ratings:
Moody’s = A1/Stable
S&P = A/Stable
Bookrunner: Citigroup
Co-Coordinating Manager: Loop Capital Markets
Co-Senior Managers:
Bank of America
Goldman Sachs
Morgan Stanley & Company, Inc.
SDVOB Managers:
Academy Securities, Inc.
Drexel Hamilton, LLC
Co-Managers:
BNY Mellon
Cabrera Capital Markets, LLC
Raymond James & Associates
Ramirez and Co., Inc.
Bond Counsel: Hawkins Delafield & Wood L.L.P.
Underwriters' Counsel: Harris Beach PLLC
Financial Advisor: Public Resource Advisory Group
Co-Financial Advisor: Acacia Financial Group, Inc.
Trustee: The Bank of New York Mellon
General Revenue Refunding Bonds, Series L
Par Amount: $596,220,000
New Money Generated: $0
Closing Date: March 8, 2018
Dated Date: March 8, 2018
First Maturity: 01/01/2019
Final Maturity: 01/01/2037
Interest Payment Dates: July 1 and January 1, commencing July 1, 2018
Call Provisions: 01/01/2028 @ 100%
TIC (True Interest Cost): 3.1950%
Purpose of Issue: To provide funds to refund the Authority's General Revenue Bonds, Series H and to pay the Costs of Issuance of the Series L Bonds.
Security: Pledge of revenues as established under the Bond Resolution.
Pricing Dates:
Retail – 02/28/18
Institutional – 03/01/18
Award – 03/02/18
Insured by: None
Ratings (Moody's & S&P):
A2/A (uninsured)
Bookrunner: RBC Capital Markets
Co-Coordinating Manager: Ramirez & Co., Inc.
Co-Senior Managers:
Morgan Stanley
Siebert Cisneros Shank & Co, LLC
SDVOB Managers:
Academy Securities
Drexel Hamilton, LLC
Co-Managers:
Oppenheimer & Co.
Roosevelt & Cross Incorporated
Stifel
The Williams Capital Group
Bond Counsel: Hawkins Delafield & Wood L.L.P.
Underwriters' Counsel: Harris Beach PLLC
Financial Advisor: Public Resources Advisory Group
Co-Financial Advisor: Acacia Financial Group, Inc.
Trustee: The Bank of New York Mellon
General Revenue Junior Indebtedness Obligations, Series 2016A
Official Statement - Series 2016A
Par Amount: $850,000,000
New Money Generated: $857,884,728.34
Closing Date: May 12, 2016
Dated Date: May 12, 2016
First Maturity: 01/01/2021
Final Maturity: 01/01/2056
Interest Payment Dates: January 1 and July 1, commencing January 1, 2017
Call Provisions: 01/01/2026 @ 100%
TIC (True Interest Cost): 3.9382%
Purpose of Issue: (i) to fund a portion of the cost of the Authority's New NY Bridge Project twin-span replacement of the Tappan Zee Bridge, (ii) to pay capitalized interest on the Series 2016A Junior Indebtedness Obligations, (iii) to make a deposit to the Series 2016A Subaccount of the Junior Indebtedness Debt Service Reserve Account, and (iv) to pay the Costs of Issuance of the Series 2016A Junior Indebtedness Obligations.
Security: Pledge of revenues, on a subordinate basis, and certain funds and accounts established under the Junior Indebtedness Resolution.
Pricing Dates:
Retail – 05/04/16
Institutional – 05/04/16
Award – 05/05/16
Ratings:
Moody's = A3 (Stable)
S&P = A- (Stable)
Book-runner: Citigroup
Co-Coordinating Manager: Siebert Brandford Shank & Co., LLC
Co-Senior Managers:
BofA Merrill Lynch
Morgan Stanley
Ramirez & Co., Inc.
Co-Managers:
Fidelity Capital Markets
Goldman, Sachs & Co.
Janney Montgomery Scott
RBC Capital Markets
Roosevelt & Cross, Incorporated
Wells Fargo Securities
Bond Counsel: Harris Beach PLLC
Underwriters' Counsel: Hawkins Delafield & Wood LLP
Financial Advisor: Public Resources Advisory Group
Trustee: The Bank of New York Mellon