New York City intends to sell $1 billion of fixed-rate general obligation bonds the week of Dec. 5, including a $200 million taxable piece.
Officials expect to price the $802 million of tax-exempts Dec. 7 after a two-day retail period. Jefferies is the book-running senior manager, with Bank of America Merrill Lynch, Citigroup, Goldman Sachs & Co., JPMorgan, Loop Capital Markets, Ramirez & Co., RBC Capital Markets, Siebert Cisneros Shank & Co. LLC and Wells Fargo Securities the co-senior managers.
In the tax-exempt piece, $650 million will fund capital projects and $152 million will convert index rate bonds to fixed-rate bonds, according to representatives of the Mayor's Office of Management and Budget and city Comptroller Scott Stringer. Also on Dec. 7, the city plans to sell $200 million of taxable bonds through competitive bid.
Moody's Investors Service rates the city's GOs Aa2. S&P Global Ratings and Fitch Ratings assign them AA ratings.