New York City Municipal Water preps $450 million sale of revenue bonds

By Sheri Kasprzak

New York, June 18 - The New York City Municipal Water Finance Authority is set to price $450 million of series 2012 water and sewer second general resolution revenue bonds, according to a preliminary official statement.

The offering includes $400 million of series 2012FF bonds and $50 million of series 2012GG bonds.

The bonds will be sold on a negotiated basis with Jefferies & Co. as the senior manager. The co-managers are Barclays Capital Inc., M.R. Beal & Co., Ramirez & Co. Inc., Raymond James/Morgan Keegan, 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, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Wells Fargo Bank, NA, BB&T Capital Markets, Lebenthal & Co. LLC, Oppenheimer & Co. Inc., Piper Jaffray & Co. and Stifel, Nicolaus & Co.

The maturities have not been set.

Proceeds will be used to repay commercial paper and make a deposit to the authority's construction fund.

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