By Sheri Kasprzak
New York, Jan. 22 - The New York City Municipal Water Finance Authority priced $645 million in upsized series 2009EE water and sewer system second general resolution revenue and refunding bonds (Aa3/AA+/AA), said Ray Orlando, spokesman for the city's Office of Budget Management.
The offering was upsized to $460 million from its planned $300 million, and the issuer added a $185 million refunding component to the sale, Orlando said.
The bonds were sold through lead manager Siebert Brandford Shank & Co.
The co-managers were Depfa First Albany Securities Inc.; Merrill Lynch & Co.; M.R. Beal & Co.; Banc of America Securities LLC; Barclays Capital Inc.; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Morgan Stanley & Co. Inc.; Raymond James & Associates; Wachovia Bank; Piper Jaffray & Co.; Prager, Sealy & Co.; RBC Capital Markets Corp.; and Roosevelt & Cross Inc.
The bonds are due 2014 to 2040 with yields ranging from 2.34% to 5.5%.
Proceeds will be used for capital improvements to the city's water and sewer system. The remainder will refund a portion of the authority's outstanding bonds.
| Issuer: | New York City Municipal Water Finance Authority
|
| Issue: | Series 2009EE water and sewer system second general resolution revenue and refunding bonds
|
| Amount: | $645 million
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. (lead); Depfa First Albany Securities Inc.; Merrill Lynch & Co.; M.R. Beal & Co.; Banc of America Securities LLC; Barclays Capital Inc.; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Morgan Stanley & Co. Inc.; Raymond James & Associates; Wachovia Bank; Piper Jaffray & Co.; Prager, Sealy & Co.; RBC Capital Markets Corp.; and Roosevelt & Cross Inc.
|
| Maturities: | 2014 to 2040
|
| Yields: | 2.34% to 5.5%
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA+
|
| Fitch: AA
|
| Pricing date: | Jan. 22
|
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