Dec 13 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
According to preliminary indications, prices of top-rated
muni bonds are sliding on Thursday for the fourth day in a row.