By Chris Wack

The Triborough Bridge and Tunnel Authority is offering $720 million in general revenue bonds to finance bridge and tunnel projects in New York City.

The offering is structured in two tranches, including $500 million in Subseries 2025 A-1 general revenue bonds, and $220 million in Subseries 2025 A-2 general revenue refunding bonds, according to documents on MuniOS.

The Series 2025 A bonds are general obligations of MTA Bridges and Tunnels payable generally from the revenue collected on the bridges and tunnels it operates. The bonds are not a debt of the state of New York or the city of New York.

The bonds are excluded from the owner's federal gross income, and not a specific preference item for an owner in calculating the federal individual alternative minimum tax.

Yield and price for the bonds have not been set yet.

The Subseries 2025 A-1 bonds are being issued to finance bridge and tunnel projects included in the MTA's approved capital programs. The Subseries 2025 A-2 bonds are being issued to refund certain outstanding general revenue bonds of the MTA, which may include bonds issued as Build America Bonds.

Interest payments will be made on a semiannual basis beginning Nov. 15, 2025.

Moody's has given the bonds an Aa3 rating, and S&P Global Ratings and Fitch has assigned the bonds an AA- rating.

Morgan Stanley is listed as the offering's lead manager.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

July 25, 2025 13:10 ET (17:10 GMT)

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