New York City Municipal Water Finance to sell revenue bonds Wednesday

By Sheri Kasprzak

New York, Jan. 14 - The New York City Municipal Water Finance Authority is scheduled to sell $450 million of series 2011EE water and sewer system second general resolution revenue bonds on Wednesday, said a sales calendar.

The bonds (Aa2/AA+/AA+) will be sold through senior manager Jefferies & Co. The co-senior managers include Barclays Capital Inc., Morgan Keegan & Co. Inc., M.R. Beal & Co. Inc. and Ramirez & Co. Inc. The co-managers are Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Fidelity Capital Markets LLC; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Rice Financial Products Co.; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Wells Fargo Bank, N.A.; BB&T Capital Markets; Lebenthal & Co. LLC; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; Stifel, Nicolaus & Co. and Stone & Youngberg.

The maturities have not been set.

Proceeds will be used to finance improvements to the city's water and sewer system and to repay commercial paper notes.

The authority provides financing for the upgrade and operation of the city's water and sewer system.

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