New York City plans to price a $635 million sale of general obligation bonds, beginning with a two-day order period on July 22.

The sale will include $375 million fixed-rate, tax-exempt new money bonds, and $135 million of tax-exempt bonds which the city will convert from variable-rate demand bonds to fixed-rate bonds.

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

The city will also sell $125 million of fixed-rate taxable new money bonds through competitive bid.

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

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