N.Y. City TFA Plans $1.2B New-Money Sale

The New York City Transitional Finance Authority intends to kick off a $1.2 billion sale of new-money bonds with a $650 million tax-exempt offering on Oct. 23 after a two-day retail order period.

The TFA will sell these bonds through its underwriting syndicate, a spokesman for city Comptroller John Liu said Wednesday.

Book-running senior manager Goldman, Sachs & Co., will lead the sale with Barclays, Bank of America Merrill Lynch, JPMorgan, Loop Capital Markets LLC, Morgan Stanley, and Wells Fargo serving as co-senior managers.

Also on Oct. 23, the TFA intends to sell $350 million of taxable fixed-rate new money bonds and $92 million of taxable fixed-rate qualified school construction bonds through competitive bid.

Additionally, the TFA intends to price $125 million of tax-exempt new money variable-rate demand bonds on Nov. 12, bringing the total sale to $1.2 billion.

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