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New Jersey to sell $398.58 million COPs Thursday for New Jersey Transit
By Sheri Kasprzak
New York, April 13 - The state of New Jersey is expected to price $398.58 million in certificates of participation for New Jersey Transit on Thursday following a retail order period Wednesday, according to a calendar of sales.
The certificates will be sold through lead managers Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. The co-managers are M.R. Beal & Co. Inc., Piper Jaffray & Co., RBC Capital Markets Corp., Rice Financial Products Inc., Sovereign Securities Corp. LLC and TDSecurities Corp.
The proceeds will be used to purchase equipment, which will be subleased to New Jersey Transit.
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