New York City preps $825 million sale of G.O. bonds in three tranches

By Sheri Kasprzak

New York, Sept. 25 - The City of New York plans to bring to market $825 million of series 2013 general obligation bonds, according to a preliminary official statement.

The offering includes $525 million of series 2013A-1 tax-exempt bonds, $260 million of series 2013B tax-exempt bonds and $40 million of series 2013C tax-exempt bonds.

The bonds will be sold through senior manager J.P. Morgan Securities LLC.

The co-managers are Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Siebert Brandford Shank & Co. LLC, Barclays, Fidelity Capital Markets, Loop Capital Markets LLC, Roosevelt & Cross Inc., Goldman Sachs & Co., Ramirez & Co. Inc., Southwest Securities Inc., M.R. Beal & Co. Inc., Jefferies & Co. Inc., Rice Financial Products Co., Wells Fargo Securities LLC, Cabrera Capital Markets LLC, Lebenthal & Co. LLC, RBC Capital Markets LLC, Jackson Securities Inc., MFR Securities Inc., Janney Montgomery Scott LLC, Raymond James/Morgan Keegan and TD Securities (USA) Inc.

The 2013A-1 bonds are due 2013 to 2032. The 2013B bonds are due 2013 to 2032. The 2013C bonds are due 2013 to 2032.

Proceeds will be used to finance some of the city's capital needs under its 2012 to 2016 financial plan.

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