Press Release

Print
255 Greenwich Street, 6th Floor ▪ New York, NY 10007-2106 ▪ Telephone: (212) 788-5876
TFA Logo

FOR IMMEDIATE RELEASE

Date: Thursday, August 21, 2025
Contact:
City Hall Press Office 212-788-2958
David Womack, Deputy Director, Mayor’s Office of Management and Budget 212-788-5872
Andrew Rothbaum, Director of Investor Relations, Mayor’s Office of Management and Budget 212-788-5876
Shaquana DeVissiere, Press Secretary, Office of NYC Comptroller Brad Lander 212-669-2109
Jay Olson, Deputy Comptroller for Public Finance, Office of NYC Comptroller Brad Lander 212-669-8334

NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY ANNOUNCES SUCCESSFUL SALE OF $1.4 BILLION OF BUILDING AID REVENUE BONDS

The New York City Transitional Finance Authority (“TFA”) announced the successful sale of approximately $1.4 billion of Building Aid Revenue Bonds, comprised entirely of tax-exempt fixed rate bonds. Proceeds from the sale will be used to reoffer and refund certain outstanding bonds for debt service savings.

The transaction achieves approximately $113 million in total debt service savings, primarily spread evenly across Fiscal Years 2026 through 2029.

TFA received nearly $774 million of orders during the retail order period and over $1.7 billion of priority orders during the institutional order period, which in total represents 1.8x the amount offered for sale.

Final yields ranged from 2.31% to 4.60% for the bonds scheduled to close in August 2025, and from 2.38% to 4.65% for the bonds with an extended delivery in October 2025.

The bonds were underwritten through a syndicate led by book-running lead manager RBC Capital Markets, with BofA Securities, Jefferies, Ramirez & Co., Inc., and Siebert Williams Shank serving as co-senior managers.

###