New York Metropolitan Transportation Agency — Open Auction Success Story
The New York Metropolitan Transportation Authority (MTA) competitively sold their $500 million Dedicated Tax Fund Bond Anticipation Notes using Grant Street Group’s MuniAuction® platform, attracting 15 underwriters who submitted 106 bids. MTA allowed underwriters to submit partial bids. After 20 Two-Minute Rule auction extensions, eight firms were “In-the-Money”.