New York City to price $520 million bonds; retail orders opened Friday

By Cristal Cody

Tupelo, Miss., Feb. 20 - New York City expects to sell $520 million in general obligation bonds on Wednesday, a source with the Office of the New York City Comptroller told Prospect News.

Retail orders for the series 2009H general obligation bonds (//AA-) opened on Friday and will continue through Tuesday.

The sale includes $400 million in subseries H1 tax-exempt bonds and $120 million in subseries H2 taxable bonds.

Citigroup Global Markets Inc. is the senior manager of the negotiated sale. The co-managers are J.P. Morgan Securities Inc., Merrill Lynch & Co. and Morgan Stanley & Co. Inc.

The proceeds will be used to finance ongoing capital improvements in the city.

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