New York City preps $1.18 billion sale of G.O. bonds for Dec. 15

By Sheri Kasprzak

New York, Dec. 6 - The City of New York is scheduled to sell $1.175 billion of series 2011 general obligation bonds on Dec. 15, according to a preliminary official statement.

The deal includes $745 million of series 2011F-1 Build America Bonds, $130 million of series 2011F-2 taxable bonds, $245 million of series 2011G tax-exempt bonds and $55 million of series 2011H tax-exempt bonds.

The series 2011F-2 bonds will be sold competitively with Public Resources Advisory Group as the financial adviser. The rest of the bonds will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Morgan Stanley & Co. Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; M.R. Beal & Co. Inc.; Fidelity Capital Markets Inc.; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Samuel A. Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wells Fargo Securities LLC; Cabrera Capital Markets LLC; Lebenthal & Co. LLC; Raymond James & Associates Inc.; Jackson Securities Inc.; MFR Securities Inc.; RBC Capital Markets Corp.; Janney Montgomery Scott LLC; Morgan Keegan & Co. Inc.; and TD Securities Inc.

The 2011F bonds are due 2012 to 2026 with term bonds, the maturities of which have not been set. The 2011G and 2011H bonds are due 2011 to 2021.

Proceeds will be used to finance capital needs for the city.

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