Tobacco Settlement Financing, N.Y., to sell $975.56 million bonds

By Sheri Kasprzak

New York, June 21 - The Tobacco Settlement Financing Corp. of New York is set to price $975.555 million of series 2011 asset-backed revenue bonds during the week of June 27, according to a preliminary official statement.

The offering includes $419.765 million of series 2011A bonds and $555.79 million of series 2011B bonds.

The bonds (/AA-/AA-) will be sold on a negotiated basis with Barclays Capital Inc. and Citigroup Global Markets Inc. as the lead managers.

The co-managers are M.R. Beal & Co.; Goldman Sachs & Co.; Bank of America Merrill Lynch; Jefferies & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Morgan Stanley & Co. Inc.; Morgan Keegan & Co. Inc.; RBC Capital Markets LLC; Roosevelt & Cross Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; and Wells Fargo Securities LLC.

Both bonds are due 2013 to 2018.

Proceeds will be used to refund the corporation's series 2003A-1C bonds and 2003B-1C bonds.

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