The Port Authority of New York & New Jersey, established in 1921, serves as a bi-state agency responsible for the transportation infrastructure of the New York-New Jersey region. With its headquarters located in New York City, the agency manages key facilities including airports, bridges, tunnels, and ports, aiming to enhance regional mobility and economic vitality. The organization plays a crucial role in facilitating trade and travel, ensuring the efficient operation of critical transport systems.
| Bond Name | Country | Maturity | Coupon(%) | |||
|---|---|---|---|---|---|---|
| No data found! | ||||||
Company overview and issue history are AI generated, and should not be cited or relied on without verification.
The Port Authority has a long history of bond issuances, with its first bond offering dating back to the early 1930s to fund infrastructure development. Notably, the agency issued $1.5 billion in bonds in 2020 to support critical capital projects during the economic challenges posed by the COVID-19 pandemic. As of recent assessments, the average yield on its bonds stands at approximately 3.5%, competitive within the municipal bond market, and the agency's bonds are often noted for their strong credit ratings and essential role in regional development.