New Issue: Port Authority of New York and New Jersey halves deal to $250 million

By Sheri Kasprzak

New York, May 19 – The Port Authority of New York and New Jersey sold $250 million of series 191 consolidated bonds, said a pricing sheet. The authority had been on tap to price $500 million of the bonds.

The bonds (Aa3/AA-/AA-) were sold through senior managers Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc. and RBC Capital Markets LLC.

The bonds are due June 1, 2045 and have a 4.823% coupon priced at par.

Proceeds will be used to finance capital projects.

Issuer:	Port Authority of New York and New Jersey
Issue:	Series 191 consolidated bonds
Amount:	$250 million
Maturity:	June 1, 2045
Coupon:	4.823%
Price:	100
Type:	Negotiated
Underwriters:	Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc. and RBC Capital Markets LLC (lead), Academy Securities, CastleOak Securities LP, Drexel Hamilton LLC, Rice Financial Products Co. and Williams Capital Group LP (co-managers)
Ratings:	Moody’s: Aa3
	Standard & Poor’s: AA-
	Fitch: AA-
Pricing date:	May 19
Settlement date:	June 1

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