The New York City Municipal Water Finance Authority intends to sell roughly $475 million of second resolution, fixed-rate tax-exempt refunding bonds on March 31 after a one-day retail order period, subject to market conditions.
Raymond James will be as book-running senior manager on the transaction, which will New York Water's underwriting syndicate. Barclays Capital, Citigroup and Ramirez & Co. will be co-senior managers.
Moody's Investors Service rates the second-resolution bonds Aa2. Fitch Ratings and Standard & Poor's rate them AA-plus.
