SWS served as Book-Running Senior Manager on the $1.5 billion NYC Transitional Finance Authority Transaction
- SWS
- 5 days ago
- 1 min read
SWS served as Book-Running Senior Manager on the $1.5 billion New York City Transitional Finance Authority, Future Tax Secured Tax-Exempt Subordinated Bonds, Fiscal 2026 Series B. Proceeds of the Bonds will be used to finance general City capital expenditures and certain expenses of the Authority incurred in connection with the issuance and sale of the Bonds. An order period for retail investors took place on October 21, 2025 and resulted in $454.5 million in orders. The balance of the transaction was made available for sale to institutional investors on October 22, 2025. Over the course of the two-day pricing SWS was able to improve yields by up to 5 basis points.
The Authority achieved an All-in TIC of 4.43% and project funds totaling $1.62 billion. At the conclusion of the order period, SWS underwrote bonds in the short end of the yield curve, demonstrating our commitment to the Authority and the precision of our pricing strategy.
Read the full press release below: