N.Y. MTA may sell $4.8B in bonds to repair damaged infrastructure

11/28/2012 | Reuters

The Metropolitan Transportation Authority of New York, which manages New York City's mass transit system, proposes to sell bonds worth $4.8 billion to help cover repair expenses after Hurricane Sandy. Initial estimates for storm damage are pegged at $5.02 billion, according to the MTA, and the agency may have to cover $950 million of that cost.

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