New York City will refinance $641 million of general obligation debt next week with Bank of America Merrill Lynch senior managing the tax-exempt portion.

The city will refinance $400 million of tax-exempt GO bonds on Tuesday, following a two-day retail order period that will kick off on Friday, according to the city’s Office of Management and Budget. The transaction will include switching $50 million of variable-rate demand bonds into fixed-rate mode.

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