City of New York offers up $1.05 billion of G.O. bonds in three parts

By Cristal Cody

Eureka Springs, Ark., July 22 – The City of New York intends to price $1.05 billion of fiscal 2017 series A general obligation bonds (Aaa/AAA/), according to a preliminary official statement.

The deal includes $800 million of subseries A-1 tax-exempt bonds, $174,185,000 of subseries A-2 taxable bonds and $75,815,000 of subseries A-3 taxable bonds.

The subseries A-1 bonds have serial maturities from 2018 through 2040 and a planned term bond. The subseries A-2 bonds and A-3 bonds have serial maturities from 2022 through 2028.

Goldman, Sachs & Co. is the bookrunner for the negotiated offering.

The co-managers are BofA Merrill Lynch; Citigroup Global Markets Inc.; Jefferies; RBC Capital Markets, LLC; Siebert Brandford Shank & Co., LLC; Wells Fargo Securities, LLC; Barclays; BNY Mellon Capital Markets LLC; Drexel Hamilton, LLC; Fidelity Capital Markets Inc.; Janney Montgomery Scott LLC; Mizuho Securities USA Inc.; Morgan Stanley & Co., LLC; Oppenheimer & Co.; Raymond James/Morgan Keegan; Roosevelt & Cross Inc.; Stifel, Nicolaus & Co., Inc.; TD Securities (USA) LLC; U.S. Bancorp Investments, Inc.; Academy Securities, Inc.; Blaylock Beal Van, LLC; FTN Financial Capital Markets; Hilltop Securities Inc.; PNC Capital Markets LLC; Rice Financial Products Co.; Stern Brothers & Co. and Williams Capital Group, LP.

Proceeds will be used for capital purposes.

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