Tobacco Settlement, N.Y., plans $1.23 billion revenue bonds offering

By Cristal Cody

Tupelo, Miss., Nov. 27 - The Tobacco Settlement Financing Corp. intends to price $1,230,620,000 of series 2013 asset-backed revenue bonds, according to a preliminary official statement.

The offering includes $662,545,000 of series 2013A bonds with serial maturities from 2018 through 2022 and $568,075,000 of series 2013B bonds due 2019 through 2022.

Citigroup Global Markets Inc., Barclays and Ramirez & Co., Inc. are the lead managers of the negotiated sale.

Co-managers are Academy Securities, Inc.; BofA Merrill Lynch; BNY Mellon Capital Markets, LLC; Drexel Hamilton, LLC; Goldman, Sachs & Co.; Jefferies & Co.; J.P. Morgan Securities LLC; Lebenthal & Co., LLC; Loop Capital Markets LLC; Morgan Stanley & Co. LLC; Raymond James/Morgan Keegan; RBC Capital Markets LLC; Rice Financial Products Co.; Roosevelt & Cross, Inc.; Siebert Brandford Shank & Co., LLC and Wells Fargo Securities LLC.

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

The Tobacco Settlement Financing Corp. is a subsidiary of the State of New York Municipal Bond Bank Agency.

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