Wells Fargo Securities will be senior manager on a $500 million New York City Transitional Finance Authority refunding deal that is set to price April 6.
The tax-exempt sale will offer future tax-secured, fixed-rate bonds.
Wells Fargo will begin institutional pricing after a two-day retail order period.
Bank of America Merrill Lynch, Barclays Capital, Citi, Goldman, Sachs & Co., JPMorgan, and Morgan Stanley will be co-senior managers.
The authority sold $775 million of Series 2011D-1 tax-exempt subordinate bonds in mid-January with Goldman Sachs as lead manager.
Those bonds priced with yields ranging from 0.87% with a 2.5% coupon for debt maturing in 2013 to 5.07% with a 5% coupon for bonds due in 2031, according to the official statement. A $186.8 million term bond maturing in 2035 priced with a 5.2% yield with a 5% coupon while another term bond maturing in the same year for $20.2 million priced with a 5.2% yield with a 5.125% coupon.
Wells Fargo was the winning bidder on most of New York State’s $829 million general obligation bond deal that priced competitively on March 22 in four different series.
Fitch Ratings and Standard & Poor’s rate the credit AAA, while Moody’s Investors Service rates it Aa1.
