Westchester County, N.Y., to sell $135.16 million G.O. bonds Thursday

By Sheri Kasprzak

New York, Jan. 16 - Westchester County in New York is slated to price $135.16 million in series 2009 general obligation bonds on Thursday, according to a preliminary official statement released Friday.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis.

The sale includes $108.405 million in series 2009A G.O. bonds, $8.925 million in series 2009B G.O. bonds and $17.83 million in series 2009C G.O. refunding bonds.

Citigroup Global Markets Inc. is the senior manager for the 2009A and 2009B bonds and is a co-manager for the 2009C bonds. Sterne, Agee & Leach Inc. is lead manager for the 2009C bonds and is a co-manager for the 2009A and 2009B bonds. The other co-managers are Banc of America Securities LLC, Loop Capital Markets LLC and Morgan Stanley & Co. Inc.

The 2009A bonds are due 2011 to 2024, the 2009B bonds are due 2011 to 2029 and the 2009C bonds are due 2009 to 2019.

Proceeds will be used for capital improvements, the construction of water and sewer facilities and the refunding of the county's series 2003 bonds.

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