The New York City Municipal Water Finance Authority intends to sell $400 million of tax-exempt, fixed-rate bonds on Nov. 30, subject to market conditions.
A one-day retail period will precede the negotiated institutional sale, which will involve a $300 million series and a $100 million series.
Raymond James is book-running lead manager with Rice Financial Products Co. the joint lead manager. Barclays and Siebert Cisneros Shank & Co. LLC are co-senior managers.
Orrick, Herrington & Sutcliffe LLP is bond counsel. Nixon Peabody LLP is representing the underwriters.
The city's system provides water to roughly 9.5 million people, of which about 8.6 million are in the city with the balance in Westchester, Putnam, Orange and Ulster counties.
A preliminary official statement is available at
