As part of our ongoing valued engagement with the Triborough Bridge and Tunnel Authority (“TBTA”), an affiliate agency of the Metropolitan Transportation Authority and the largest bridge and tunnel toll agency in the United States, Bryant Rabbino served as Co-Bond Counsel in connection with the remarketing of TBTA’s outstanding $111,175,000 MTA Bridges and Tunnels General Revenue Refunding Bonds, Series 2002F and $53,005,000 MTA Bridges and Tunnels General Revenue Bonds, Subseries 2008B-2 (LIBOR Floating Rate Tender Notes).
This remarketing involved the mandatory tender and conversion of each series of outstanding Series 2002F Bonds and Subseries 2008B-2 Bonds (collectively, the “Remarketed Bonds”) to a Fixed Rate, and the amendment and restatement of various terms and provisions of the Remarketed Bonds.
This remarketing provided millions of dollars in vital savings for the TBTA.
Bryant Rabbino attorneys Sani A. Williams, B. Seth Bryant, Aram Muradyan, and Bernard Armoo assisted on the transaction, which closed on October 27, 2021.