New York City coordinates $900 million sale of general obligation debt

By Sheri Kasprzak

New York, July 31 – The City of New York is expected to price $900 million of series 2015A-B general obligation bonds, said a preliminary official statement.

The deal includes $700 million of series 2015A bonds and $200 million of series 2015B bonds.

The bonds will be sold on a negotiated basis with BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Jefferies & Co. and Siebert Brandford Shank & Co. LLC as the bookrunners.

The co-managers are Barclays, Janney Montgomery Scott LLC, PNC Capital Markets LLC, RBC Capital Markets LLC, Southwest Securities Inc., Fidelity Capital Markets, Ramirez & Co. Inc., Lebenthal & Co. LLC, Rice Financial Products Co., Goldman, Sachs & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Wells Fargo Securities LLC, Blaylock Beal Van LLC, Cabrera Capital Markets LLC, TD Securities (USA) LLC and Drexel Hamilton LLC.

The bonds are due 2015 to 2034.

Proceeds will be used to finance capital expenditures as part of the city’s four-year capital plan.

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