By Aaron Hochman-Zimmerman
New York, April 1 - The Port Authority of New York and New Jersey priced $85.7 million 155th series consolidated bonds at a true interest cost of 2.78%, according to debt manager Michael Percival.
Citigroup Global Markets Inc. won the auction over six other bidders.
The yields ranged from 1.25% to 3.60%, corresponding to bonds maturing from 2010 to 2019.
Proceeds from the sale will be used to refund existing obligations.
The Port Authority of New York and New Jersey is located in New York.
| Issuer: | Port Authority of New York and New Jersey
|
| Issue: | 155th series consolidated bonds
|
| Amount: | $85.7 million
|
| Maturities: | 2010 to 2019
|
| True interest cost: | 2.78%
|
| Yield range: | 1.25% to 3.60%
|
| Type: | Competitive
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Pricing date: | April 1
|
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