SWS served as Senior Manager on the Port Authority of New York and New Jersey $350 million Consolidated Bonds, 251st Series pricing. Proceeds of the bonds will be used for capital projects in connection with facilities of the Port Authority and/or for purposes of refunding other obligations of the Port Authority.

An order period for retail investors took place on February 3, 2026, initially offering $300 million of par, and resulted in $606.0 million in orders. An Institutional Order Period took place on February 4th, 2026, and the Port Authority increased the size of the transaction to $350 million to capitalize on the strong market attention. An additional $1.5 billion in institutional orders were placed and SWS was able to improve spreads by up to 16 basis points from the beginning of the marketing period.