The New York City Municipal Water Finance Authority sold $662 million of second-resolution, fixed-rate, tax-exempt new-money and refunding bonds in a sale that was upsized from an initial $450 million.
Jefferies & Co. was book-running senior manager on Wednesday’s transaction, while Barclays Capital, Morgan Keegan M.R. Beal & Co. and Ramirez & Co. were co-senior managers.
The sale included $212 million of refunding bonds and $450 million of new money bonds.
New York Water also received $132 million in orders during a one-day retail period.
Yields at final pricing ranged from 0.75% in the 2017 maturity to 4.1% in the 2045 maturity.
Moody’s Investors Service rated the bonds Aa2, while Fitch Ratings and Standard & Poor’s assigned AA-plus ratings.