Triborough Bridge and Tunnel, N.Y., offers to purchase 2002E bonds

By Marisa Wong

Madison, Wis., Nov. 21 - The Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels) of New York is offering to purchase its series 2002E subordinate revenue refunding bonds through a modified Dutch auction, according to a notice.

The following bonds are included under the offer:

• $31,645,000 of bonds due Nov. 15, 2018;

• $56.49 million of bonds due Nov. 15, 2019;

• $59.05 million of bonds due Nov. 15, 2020; and

• $61,745,000 of bonds due Nov. 15, 2021.

Bondholders are invited to tender some or all of their bonds for cash, with or without a price specified, until 5 p.m. ET on Dec. 10.

Tenders may be withdrawn prior to the expiration of the offer.

The authority said it has not set a total purchase amount but expects to purchase no more than 42% of the principal amount of any maturity of the 2002E bonds.

Settlement is slated for Dec. 20.

Jefferies LLC (800 567-8567) is the dealer manager, and Global Advisors (attn.: Robert Stevens, 212 227-9699 or 800 974-5771) is the information agent.

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