New York City Municipal Water to sell $450 million bonds Tuesday

By Sheri Kasprzak

New York, Nov. 14 - The New York City Municipal Water Finance Authority plans to bring to market $450 million of series 2012BB water and sewer system second general resolution revenue bonds, according to a preliminary official statement.

The bonds (Aa2/AA+/AA+) will be sold on a negotiated basis with Barclays Capital Inc. as the senior manager.

The co-managers are Jefferies & Co., Morgan Keegan & Co. Inc., M.R. Beal & Co., Ramirez & Co. Inc., 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, Morgan Stanley & Co. LLC, Raymond James & Associates Inc., RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Wells Fargo Bank, NA, BB&T Capital Markets LLC, Lebenthal & Co. LLC, Oppenheimer & Co. Inc., Piper Jaffray & Co. and Stifel, Nicolaus & Co.

The maturity dates have not been set.

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

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