New York City intends to sell $750 million G.O. bonds Thursday

By Sheri Kasprzak

New York, March 15 - The City of New York is scheduled to price $750 million in series 2010G general obligation bonds on Thursday, according to a preliminary official statement. A retail order period is set for Wednesday.

The offering includes $660 million in series 2010G-1 Build America Bonds, $75 million in series 2010G-2 taxable bonds and $15 million in series 2010G-3 tax-exempt bonds.

The bonds (Aa3/AA/AA-) will be sold on a negotiated basis with Siebert Brandford Shank & Co. LLC as the senior manager.

The co-managers are Bank of America Merrill Lynch; Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Morgan Stanley & Co. Inc.; Barclays Capital Inc.; M.R. Beal & Co.; Fidelity Capital Markets LLC; Goldman Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities Inc.; Wachovia Bank, NA; 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.

All of the bonds are due 2010 to 2027 with term bonds, the exact due dates of which have not been set.

Proceeds will be used to fund capital expenditures.

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