NY's Triborough Bridge & Tunnel Auth postpones $904 mln rev sale

Thu Dec 13, 2012 12:10pm EST

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Dec 13 (Reuters) - New York's Triborough Bridge and Tunnel Authority has postponed its $904 million revenue refunding bonds sale to Tuesday, said Patrick McCoy, Director of Finance for the Metropolitan Transportation Authority (MTA) on Thursday.

The sale, originally planned for Thursday, consists of $266 million of general bonds and $638 million of subordinate bonds and is being issued for the MTA's bridges and tunnels.

The deal is being postponed "due to volatile market conditions," McCoy added.

"It is expected the bonds will be priced Monday, Dec. 17 for retail and Tuesday, Dec. 18 for institutional investors", he added.

According to preliminary indications, prices of top-rated muni bonds are sliding on Thursday for the fourth day in a row.

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