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Direct Placement of Bonds

Updated Mar 24, 2022

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On December 17, 2020, MTA completed a direct placement of $2,907,280,000 of Payroll Mobility Tax Bond Anticipation Notes (BANs), Series 2020A to the Federal Reserve Bank of New York’s Municipal Liquidity Facility LLC (MLFLLC). The Series 2020A Notes were purchased directly, pursuant to a Note Purchase Agreement, dated December 9, 2020, between MTA, as issuer, and the MLFLLC, as purchaser. The 2020A BANs that are placed with the MLFLLC have CUSIP 59261CAA1 and mature on December 15, 2023. For more information, see the notice and Certificate of Determination.

On September 5, 2018, the Transportation Revenue Variable Rate Bonds, Subseries 2015E-2, $193,565,000, were subject to a mandatory tender, converted to a Term Rate Mode to bear interest at an Adjusted SIFMA Rate, and were purchased by RBC Capital Markets, LLC and transferred to its affiliate, Royal Bank of Canada. The remarketed bonds have a new CUSIP, 59261AXA0. The next Mandatory Purchase Date for the TRB Subseries 2015E-2 is September 5, 2023. For more information see the voluntary notice and attached Certificate of Determination and Appendix A-2.