The New York City Municipal Water Finance Authority plans to sell $517 million of fiscal 2013 Series DD refunding bonds next week.

A Monday retail period will precede the institutional sale, according to a spokesman for city Comptroller John Liu.

Ramirez & Co. is bookrunning senior manager for the second resolution, fixed-rate, tax-exempt refunding bonds. Barclays Capital, Citi, M.R. Beal & Co. and Raymond James are co-senior managers.

This will mark New York Water's second sale in two weeks. It sold $456 million of tax-exempt new money bonds on Feb. 20, and received $56 million of retail orders. New York Water also sold $441 million on Dec. 4 and $661 million in June.

Yields to maturity at the final pricing on Feb. 20 varied by coupon from 3.86% to 4.28% in the single 2047 maturity.

Fitch Ratings and Standard & Poor's rate the bonds AA-plus, while Moody's Investors Service assigns its Aa2 rating.

Orrick, Herrington & Sutcliffe LLP is bond counsel. Nixon Peabody LLP is representing the underwriters. Financial advisers are Lamont Financial Services Corp., Drexel Hamilton, LLC and Acacia Financial Group Inc.

The authority has about $29 billion of debt outstanding, according to documents on its website.

New York Water provides more than 1 billion gallons of water daily to 9 million customers. Of that total, 8.2 million are in New York City and the rest are in Westchester, Putnam, Orange and Ulster counties.

The agency draws its water for the system from the Croton, Catskill and Delaware reservoir systems upstate and a system of wells in New York City's Queens borough that it acquired as part of the city's purchase of the Jamaica Water Supply Co. in 1996.

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