New York State Thruway Authority Plans to Issue $522 Million in Refunding Bonds
By Chris Wack
The New York State Thruway Authority plans to issue $521.75 million in general revenue Series Q Refunding Bonds to repay outstanding bonds and pay the cost of issuance of these bonds.
The Series bonds are direct and general obligations of the authority, and are not a debt of New York state.
The bonds are secured by a senior debt service revenue fund, as well as toll revenue, according to a preliminary official statement posted Friday on MuniOS.
The bonds will mature from 2026 through 2032. A competitive sale date is set for Oct. 8, with a closing planned for Oct. 22, according to a roadshow presentation posted on MuniOS.
Interest on the Series Q bonds will be excluded from gross income for federal income tax purposes.
Moody's Investors Service has given the bonds a rating of Aa3, while S&P Global Ratings has rated them at A+.
By Chris Wack, chris.wack@wsj.com
(END) Dow Jones Newswires
September 30, 2024 11:08 ET (15:08 GMT)
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