New York City Transitional Finance to bring $900 million of future tax secured bonds Wednesday

By Sheri Kasprzak

New York, Nov. 7 - The New York City Transitional Finance Authority plans to bring to market $900 million of series 2012D future tax secured bonds on Wednesday, said a preliminary official statement.

The deal includes $600 million of series 2012D-1 tax-exempt bonds, $100 million of series 2012D-2 taxable subordinate qualified school construction bonds and $200 million of series 2012D-3 taxable subordinate bonds.

The bonds will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are Barclays Capital Inc.; Bank of America Merrill Lynch; J.P. Morgan Securities LLC; Goldman, Sachs & Co.; Morgan Stanley & Co. LLC; Cabrera Capital Markets LLC; Fidelity Capital Markets LLC; Jackson Securities Inc.; Jefferies & Co.; Loop Capital Markets LLC; M.R. Beal & Co.; Ramirez & Co. Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Wells Fargo Bank, NA; Morgan Keegan & Co. Inc.; Oppenheimer & Co. Inc.; Raymond James & Associates Inc.; RBC Capital Markets LLC; Southwest Securities Corp.; and Stifel, Nicolaus & Co. Inc.

The maturity dates have not been set.

Proceeds will be used to finance general capital expenditures for the city.

The authority was established to fund a portion of the city's capital needs.

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