New York City on Thursday announced new underwriting syndicates for its bond sales and those of the Transitional Finance Authority and Municipal Water Finance Authority.
The New York City Mayor's Office of Management and Budget and the City Comptroller's Office said the selections represent an increase to 31% in the share of minority and women-owned business enterprises assigned on a rotating basis as book-running senior managers. Currently, about 20% of book running senior manager slots are held by MWBEs.
NYC GOs, NYC TFA Bonds
The city picked the following firms as new senior managers to underwrite the city's general obligation bonds and the TFA's future tax secured America Merrill Lynch bonds (including building aid revenue bond new money bonds, but excluding BARB refundings): Bank of, Siebert Brandford Shank, Goldman, Sachs, Ramirez, Jefferies, Wells Fargo Securities, Citigroup Global Markets, JPMorgan Securities, RBC Capital Markets, and Loop Capital Markets.
The senior co-managers for the GO, TFA and BARB new money bonds are: Barclays Capital, BNY Mellon Capital Markets, Drexel Hamilton, Fidelity Capital Markets, Janney Montgomery Scott, Mizuho Securities USA, Morgan Stanley, Oppenheimer, Raymond James, Roosevelt & Cross, Stifel, Nicolaus, TD Securities (USA), and U.S. Bancorp Municipal Securities Group. The co-managers for the GO, TFA and BARB new money bonds are: Academy Securities, Blaylock Beal Van, Bonwick Capital Partners, FTN Financial Capital Markets, Hilltop Securities, PNC Capital Markets, Rice Financial Products, Stern Brothers, and The Williams Capital Group.
NYC TFA BARB Refundings
The senior managers appointed to underwrite the first three issuances of TFA BARB refundings are: Bank of America Merrill Lynch, Jefferies, and Ramirez. The senior co-managers for the TFA BARB refundings are Barclays Capital, BNY Mellon Capital Markets, Citigroup, Drexel Hamilton, Fidelity Capital Markets, Goldman, Sachs, JPMorgan, Janney, Loop, Mizuho Securities USA, Morgan Stanley, Oppenheimer, Raymond James, RBC, Roosevelt & Cross, Siebert Brandford Shank, Stifel, Nicolaus, TD Securities (USA), U.S. Bancorp Municipal Securities Group and Wells Fargo Securities. The co-managers for the TFA BARB refundings are: Academy Securities, Blaylock Beal Van, Bonwick Capital Partners, FTN Financial Capital Markets, Hilltop Securities, PNC, Rice Financial Products, Stern Brothers, and The Williams Capital Group.
NYC MWFA Bonds
The senior managers selected to underwrite the MWFA bonds are: Raymond James, Barclays Capital, and Siebert Brandford Shank. The senior co-managers for NYW bonds are: Bank of America Merrill Lynch, Citigroup, Fidelity Capital Markets, Goldman, Sachs, JPMorgan, Jefferies, Loop, Mizuho Securities USA, Morgan Stanley, Ramirez, RBC, Roosevelt & Cross, TD Securities (USA), U.S. Bancorp Municipal Securities Group, and Wells Fargo. The co-managers for NYW bonds are: Academy Securities, Blaylock Beal Van, Cabrera Capital Markets, Mesirow Financial, Mischler Financial Group, PNC Capital Markets, Rice Financial Products, Stifel and The Williams Capital Group.
Additional Firms
The city also said that Rice Financial, Blaylock Beal Van and Williams Capital will be given the opportunity to partner with the book-running senior manager for a transaction in the capacity of joint lead manager on a bond issue of the city or one of its financing authorities.
