NEW YORK - New Jersey’s Treasury Department Friday announced its selection of senior underwriters and co-senior managers to work on the state’s negotiated debt offerings during the next year.
Officials selected 10 firms out of 25 that submitted proposals to serve in its senior management pool: Barclays Capital, Citi, Goldman Sachs & Co., JPMorgan, Jefferies & Co., Bank of America-Merrill Lynch, Morgan Keegan & Co., Morgan Stanley, RBC Capital Markets, and Wachovia Bank NA.
In addition, the state selected five banks to serve as senior co-manager on negotiated deals: BB&T Capital Markets, PNC Capital Markets, Raymond James & Associates Inc., Siebert Brandford Shank & Co., and Stifel Nicolaus & Co.
Both pools will underwrite state bond and note deals and also price debt sold through independent authorities and backed by the state’s obligation. The contracts extend for one year, and the state has the option to renew the agreements via two one-year extensions, according to the Treasury Department.
New Jersey said will announce its selection of co-managers and its selling group members “in the near future.”