New York City Transitional Finance Authority plans $900 million bonds

By Sheri Kasprzak

New York, July 17 - The New York City Transitional Finance Authority plans to sell $900 million in series 2010A future tax secured bonds, according to a preliminary official statement. Pricing is expected for Thursday.

The sale includes $800 million in series 2010A-1 tax-exempt subordinate bonds and $100 million in series 2010A-2 taxable subordinate bonds.

The 2010A-1 bonds will be sold through senior manager J.P. Morgan Securities Inc. The co-managers are Barclays Capital Inc.; Goldman, Sachs & Co.; Citigroup Global Markets Inc.; Jefferies & Co.; Loop Capital Markets LLC; M.R. Beal & Co.; Merrill Lynch & Co. Inc.; Ramirez & Co. Inc.; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Wachovia Bank N.A.; Cabrera Capital Markets Inc.; Jackson Securities Inc.; Raymond James & Associates Inc.; RBC Capital Markets Corp.; Stifel, Nicolaus & Co.; and TD Securities Inc.

The 2010A-2 bonds will be sold competitively.

The bonds are due 2011 to 2039.

Proceeds will be used to fund capital expenditures.

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