This ARCHIVE contains information provided for historical purposes only. Each document contained in this portion of the MTA website is marked with a Dated Date and speaks only as of that Dated Date. Readers are cautioned not to assume that any information has been updated beyond the Dated Date unless a document expressly states that it constitutes an update of a specific portion of a document. MTA, its affiliates and subsidiaries expressly disclaim any duty to provide an update of any document contained in this section.
OFFICIAL STATEMENTS and REMARKETING CIRCULARS
Transportation Revenue Bonds
Subseries 2005E-1 and 2015E-1, Remarketing Circular
Metropolitan Transportation Authority Transportation Revenue Variable Rate Bonds, dated August 11, 2021, as supplemented August 17, 2021
Subseries 2002G-1f and 2005D-1, Remarketing Circular
Metropolitan Transportation Authority Transportation Revenue Variable Rate Bonds (SOFR Tender Notes), dated June 23, 2021
Subseries 2020B-1, Remarketing Circular
Metropolitan Transportation Authority Transportation Revenue Variable Rate Refunding Bonds, dated March 24, 2021
Subseries 2002D-2, Remarketing Circular
Metropolitan Transportation Authority Transportation Revenue Variable Rate Refunding Bonds (SOFR Tender Notes), dated March 24, 2021
Series 2021A, Official Statement
Metropolitan Transportation Authority Transportation Revenue Bonds (consisting of Subseries 2021A-1 Green Bonds (Climate Bond Certified) and 2021A-2 bonds), dated February 9, 2021
Payroll Mobility Tax Senior Lien Obligations
Series 2021C, Official Statement
TBTA (MTA Bridges and Tunnels) Payroll Mobility Tax Senior Lien Bonds, dated September 21, 2021
Series 2021B, Official Statement
TBTA (MTA Bridges and Tunnels) Payroll Mobility Tax Senior Lien Bonds, dated August 12, 2021
Series 2021A, Official Statement
TBTA (MTA Bridges and Tunnels) Payroll Mobility Tax Senior Lien Bonds, dated April 20, 2021, as supplemented April 30, 2021
Dedicated Tax Fund Bonds
Subseries 2002B-1, Remarketing Circular
Metropolitan Transportation Authority Dedicated Tax Fund Bonds, dated March 10, 2021
Grant Anticipation Notes
Series 2021A, Offering Memorandum
Metropolitan Transportation Authority Grant Anticipation Notes (Fully Appropriated COVID Operating Grants - Federally Taxable), dated December 1, 2021
Triborough Bridge and Tunnel Authority General Revenue Bonds (Senior Lien)
Series 2002F and Subseries 2008B-2, Remarketing Circular
TBTA (MTA Bridges and Tunnels) General Revenue Bonds, dated October 21, 2021
Series 2021A, Official Statement
TBTA (MTA Bridges and Tunnels) General Revenue Bonds, dated March 25, 2021
Subseries 2005B-4a, Remarketing Circular
TBTA (MTA Bridges and Tunnels) General Revenue Variable Rate Refunding Bonds (SOFR Tender Notes), dated January 26, 2021
Subseries 2005B-2, Remarketing Circular
TBTA (MTA Bridges and Tunnels) General Revenue Variable Rate Bonds, dated January 15, 2021, as supplemented January 20, 2021
Triborough Bridge and Tunnel Authority Second Subordinate Lien (CBDTP)
Series 2021A, Offering Memorandum
TBTA (MTA Bridges and Tunnels) Second Subordinate Revenue Bond Anticipation Notes, dated June 3, 2021
Triborough Bridge and Tunnel Authority Subordinate Revenue Bonds
None issued during 2021.
DISCLOSURE FILINGS and FINANCIAL REPORTS
Annual Combined Continuing Disclosure Filings
Part I – MTA Annual Disclosure Statement
Dated April 30, 2021, as supplemented June 3, 2021
Part II, All Debt Outstanding
As of April 30, 2021
Appendix A
Redirect to Part I – MTA Annual Disclosure Statement
Appendix B
Audited Consolidated Financial Statements of Metropolitan Transportation Authority for the Years Ended December 31, 2020 and 2019
Appendix C
Audited Financial Statements of the New York City Transit Authority for the Years Ended December 31, 2020 and 2019
Appendix D
Audited Financial Statements of Triborough Bridge and Tunnel Authority for the Years Ended December 31, 2020 and 2019
Appendix E
History and Projection of Traffic, Toll Revenues and Expenses and Review of Physical Conditions of the Facilities of Triborough Bridge and Tunnel Authority, dated April 30, 2021, prepared by Stantec Consulting Services – New York
Annual Compliance Certification in connection with Climate Bonds Initiative Annual Reporting
MTA’s Climate Bond Certified Green Bonds, as of April 30, 2021
MATERIAL EVENT NOTICES and VOLUNTARY NOTICES
Bond calls/redemption notices/defeasance
TRB Series 2011C and Series 2011D
Notice of Redemption of portion of TRB Series 2011C (CUSIPs 59261ATX5, UE5, TY3, UG0, TZ0, UA3, UB1, UC9, UD7, UF2) and TRB Series 2011D (CUSIP 59261ASL2) on November 15, 2021
TRB Subseries 2015D-1 and Series 2016B
Notice of Redemption of portion of TRB Subseries 2015D-1 (CUSIP 59259Y6W4) and TRB Series 2016B (CUSIPs 59261AFX0, FY8, FZ5) on October 4, 2021
TRB Subseries 2020B-1
Notice of Partial Redemption, $6,830,000, on TRB Subseries 2020B-1 (CUSIP 59261AL70) on September 14, 2021
TRB Series 2015X
Notice of Prepayment (Redemption of TRB Series 2015X, no CUSIP) with prepayment and termination of RRIF Loan, on May 5, 2021.
Letter of Credit (LOC) Substitutions
TRB Subseries 2005E1_E3 and Subseries 2015E1_E4
Notice of Credit Facilities Substitution (CUSIPS 59261AWC7, 59261AWE3, 59259Y7K9, 59261AWH6), on August 18, 2021
TBTA Subseries 2005B-2
Notice of Credit Facility Substitution (CUSIP 89602RDT9), on January 21, 2021
Mandatory Tender Notices
TBTA Subseries 2008B-2
Notice of Mandatory Tender (CUSIP 89602NZ98) on October 27, 2021
TBTA Series 2002F
Notice of Mandatory Tender (CUSIP 89602RFA8) on October 27, 2021
TRB Subseries 2005E-1
Notice of Mandatory Tender (CUSIP 59261AWC7) on August 18, 2021
TRB Subseries 2005E-3
Notice of Mandatory Tender (CUSIP 59261AWE3) on August 18, 2021
TRB Subseries 2015E-1
Notice of Mandatory Tender (CUSIP 59259Y7K9) on August 18, 2021
TRB Subseries 2015E-4
Notice of Mandatory Tender (CUSIP 59261AWH6) on August 18, 2021
TRB Subseries 2002G-1f
Notice of Mandatory Tender (CUSIP 59261AXG7) on June 30, 2021
TRB Subseries 2005D-1
Notice of Mandatory Tender (CUSIP 59261AXF9) on June 30, 2021
TRB Subseries 2002D-2a-2
Notice of Mandatory Tender (CUSIP 59261AMQ7) on April 6, 2021
TRB Subseries 2002D-2b
Notice of Mandatory Tender (CUSIP 59261AVJ3) on April 1, 2021
TRB Subseries 2002D-2a-1
Notice of Mandatory Tender (CUSIP 59261AF93) on March 31, 2021
DTF Subseries 2002B-1
Notice of Mandatory Tender and Mode Change (CUSIP 59259N2Z5) on March 18, 2021
TBTA Subseries 2005B-4a
Notice of Mandatory Tender (CUSIP 89602N6Q2) on February 1, 2021
TBTA Subseries 2005B-2
Notice of Mandatory Tender and Mode Change (CUSIP 89602RDT9) on January 21, 2021
Ratings Actions
On July 1, 2021, S&P Global Ratings lowered its short-term ratings on MTA's enhanced VRDB, Subseries TRB 2005D-2 (CUSIP 59259YAE9) to 'A-2,' as result of its downgrade of the Subseries 2005D-2 Letter of Credit Provider - Landesbank Hessen-Thueringen Girozentrale (Helaba) on June 24, 2021. The long-term enhanced ratings on the Subseries TRB 2005D-2 was affirmed. Read more.
On June 11, 2021, both S&P Global Ratings and Fitch Ratings revised the outlooks on Dedicated Tax Fund Bonds (AA) and Payroll Mobility Tax Obligations (AA+) from negative to Stable, as result of the same outlook placed on their ratings for New York State. Read more from S&P. Read more from Fitch.
On June 8, 2021, Fitch Ratings upgraded MTA's enhanced VRDBs to 'AA' (TRB 2005E-2, CUSIP 59261ASD0 and TRB 2015E-3, CUSIP 59261AWK9) and TBTA's enhanced VRDBs to 'AAA' (TBTA 2003B-1, CUSIP 89602RDR3 and TBTA 2018E, CUSIP 89602RFE0) as result of its upgrade of the four subseries Letters of Credit provider, Bank of America, on June 7. Read more.
On April 22, 2021, S&P Global Ratings revised the outlook on TBTA General Revenue (AA-) and Subordinate Revenue Bonds (A+) from negative to Stable, as part of its action on U.S. Transportation Infrastructure sector. Read more.
On April 8, 2021, Moody's Investors Service revised the outlook on TBTA General Revenue (Aa3) and Subordinate Revenue Bonds (A1) from negative to Stable. Read more.
On April 6, 2021, Moody's Investors Service revised the outlook on MTA's Transportation Revenue Bonds (A3) from negative to Stable. Read more.
On March 18, 2021, S&P Global Ratings revised the outlook on MTA’s Transportation Revenue Bonds (BBB+) from negative to Stable. Read more.
Financial Obligations
On September 7, 2021, MTA repaid the outstanding $378.5 million on the 2020A RAN and drew new 2021E RAN for same amount, on its Revolving Credit Agreement with JP Morgan. Read more.
On August 31, 2021 and September 1, 2021, MTA repaid outstanding RANs (2020B and 2020C) and drew new RANs (2021C and 2021D), $95.3 million and $2.5 million, respectively, on it Revolving Credit Agreement with Bank of America. Read more.
On May 21, 2021, MTA terminated the $950 million syndicated taxable Term Credit Agreement, that was in place from 5/22/2020, in accordance with its provisions. Read more.
On May 5, 2021, MTA voluntarily prepaid the outstanding amount in the RRIF Loan-PTC Project (TRB Series 2015X) and terminated the loan. Read more.
On April 16, 2021, MTA drew $420 million on its Revolving Credit Agreement with JP Morgan and $300 million on its Revolving Credit Agreement with Bank of America. Read more.
Voluntary Notices
- Notice regarding the commencement of receipt of Grant Receipts related to CRRSAA funds, dated December 27, 2021
- Notice regarding the Execution of the Grant Agreement related to CRRSAA funds, dated December 8, 2021
- Notice regarding Status of Wells Fargo as Trustee for HRY Trust Obligations, Series 2016A and 2020A, dated November 30, 2021
- Notice regarding Amendment to Moynihan Station Development Project Financial Guarantee, dated November 30, 2021
- Notice of Extension on Letter of Credit Facility for TRB Subseries 2005E-2, dated November 22, 2021
- Notice of Extension on Letter of Credit Facility for TRB Subseries 2012G-2, dated October 15, 2021
- Notice of Extension on Letter of Credit Facility for TRB Subseries 2002G-1g, dated October 15, 2021
- Notice of Early Mandatory Redemption HRY Refunding Trust Obligations, Series 2020A on August 15, 2021
- Notice of Partial Redemption (No CUSIP) for TRB Subseries 2020B-1 on April 1, 2021
- Notice of Mandatory Tender and Mode Change (No CUSIP) for TRB Subseries 2020B-1 on April 1, 2021
- Notice of Early Mandatory Redemption HRY Refunding Trust Obligations, Series 2020A on February 16, 2021
FINANCING AGREEMENTS
RRIF Loan (Closed May 5, 2021)
On May 5, 2015, MTA entered into a financing agreement with the United States, represented by the Secretary of Transportation, acting through the Federal Railroad Administrator, to finance costs incurred by MTA in connection with the installation of the federally required Positive Train Control Systems on its commuter rail tracks. For more details, see the summary and financing agreement and the supplemental resolution that went before the MTA Board in April 2015. The approved financing was for a total of $967,100,000.
On September 20, 2016, MTA made a draw of $146.5 million (TRB Subseries 2015X-1), on May 1, 2019, MTA made a draw of $300.0 million (TRB Subseries 2015X-2), and on April 20, 2020, MTA made a draw of $244.4 million (TRB Subseries 2015X-3), for a total of $690.9 million drawn in the form of the TRB Series 2015X Bonds. The bonds were amortizing so as of May 5, 2021, the outstanding principal on the draws was $630.7 million.
On May 5, 2021, in conjunction with the TBTA Payroll Mobility Senior Lien Bonds, Series 2021A transaction, MTA voluntarily prepaid the full outstanding amount on the RRIF Loan (TRB Series 2015X) and closed the RRIF Loan. For more information, see the prepayment notice.
Direct Placement of Bonds
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 August 26, 2020, the MTA completed a direct placement of $450,720,000 of Transportation Revenue Bond Anticipation Notes (BANs), Series 2020B to the Federal Reserve Bank of New York’s Municipal Liquidity Facility LLC (MLFLLC) via a competitive bid process. The Series 2020B Notes were purchased directly, pursuant to a Note Purchase Agreement, dated August 10, 2020, between MTA, as issuer, and the MLFLLC, as purchaser. The 2020B BANs that are placed with the MLFLLC have CUSIP 59261AG92 and mature on August 1, 2023. For more information, see the notice and Offering Memorandum.
On March 27, 2020, MTA’s Transportation Revenue Refunding Bonds, Subseries 2020B-2 Bonds were purchased, pursuant to a Continuing Covenant Agreement, between MTA and Bank of America, N.A., as purchaser. The TRB Subseries 2020B-2 bonds have CUSIP, 59261AF85, and a mandatory tender date of March 24, 2022. For more information see the attached notice with the Certificate of Determination and Appendix A and Bank of America, N.A. (Note, the TRB Subseries 2020B-1 had been purchased on March 27, 2020 by PNC, but as of April 1, 2021, the bonds were remarketed publicly in Weekly Mode supported by a Letter of Credit by PNC).
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.
Term Credit Agreement (CLOSED 5/21/2021)
On May 22, 2020, MTA entered into a taxable term credit agreement with JPMorgan Chase Bank National Association, as administrative agent, and Industrial and Commercial Bank of China Limited, New York Branch, and Bank of China, New York Branch, collectively as lenders, for a line of credit of $950 million that was available until May 22, 2022, unless extended or terminated pursuant to its provisions. Funds were available to used for operational or capital purposes. Effective May 21, 2021, this credit agreement was terminated, in accordance with its provisions.