New York plans to price $550 million G.O. bonds Tuesday; also expects $100 million adjustable-rate sale

By Cristal Cody

Springdale, Ark., Feb. 6 - New York plans to price $550 million general obligation bonds series I on Tuesday, according to a sell-side source.

The bonds will be offered for retail sale on Thursday, the source said Wednesday.

The city plans to price $475 million tax-exempt bonds subseries I-1 with serial maturities from 2010 through 2028, and $75 million taxable bonds subseries I-2 structured with maturities in 2018 to 2020, according to a preliminary official statement.

Loop Capital Markets LLC is the lead manager on the negotiated deal, which includes 24 other underwriters as co-managers.

Proceeds from the tax-exempt bonds will be used for capital purposes and the proceeds from taxable bonds will be used for other discrete capital purposes.

New York also plans to price $100 million tax-exempt multi-modal general obligation bonds as adjustable-rate bonds on Feb. 28, said Ray Orlando, director of media and investor relations for the mayor's management and budget office. Bank of America will be the remarketing agent, he said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.