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New Jersey to price $312 million COPs on Wednesday
By Sheri Kasprzak
New York, April 8 - The state of New Jersey intends to price $312 million in certificates of participation (COPs) Wednesday, according to a calendar of offerings.
The bonds (A1/AA-/A+) will be sold on a negotiated basis. UBS Securities is the lead manager with Citigroup Global Markets as the co-manager.
The state will use the proceeds to buy new transit equipment, including 27 locomotives, related parts and 37 multi-level railcars, which will be leased by the state to NJ Transit.
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