New York City has scheduled a $1.42 billion general obligation bond sale for Feb. 27 through negotiation, after a two-day retail period.

The city plans to price $520 million of new money bonds, $250 million of refunding bonds, both tax-exempt, fixed rate, and $122 million of tax-exempt bonds which will be converted from variable-rate demand bonds to fixed-rate bonds, a spokesman for city Comptroller John Liu said late Tuesday.

Book-running senior manager Morgan Stanley will lead the sale. Bank of America Merrill Lynch, Citi, JPMorgan, Jefferies & Co. and Siebert Brandford Shank & Co. are the co-senior managers.

Additionally, the city will convert $248 million of VRDBs to step-coupon floating rate notes. Siebert Brandford Shank will lead the sale of $100 million of the converted bonds, and Loop Capital Markets LLC and RBC Capital Markets will each lead a sale of $74 million of the converted bonds. The pricings for these sales will take place on Feb. 26.

The city also intends to sell $100 million in taxable, fixed-rate new money bonds through competitive sale on Feb. 27.

It also expects to price $179 million of tax-exempt VRDBs around March 18.

Moody’s Investors Service rates the GO bonds Aa2, while Fitch Ratings and Standard & Poor’s each assign AA ratings.

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