New York's Metropolitan Transportation Authority to price $750 million bonds on Feb. 11

By Sheri Kasprzak

New York, Feb. 7 - The Metropolitan Transportation Authority of New York City plans to price $750 million in transportation revenue bonds on Feb. 11, the city confirmed Thursday.

The bonds will be sold on a negotiated basis and will have serial maturities from 2009 to 2028 with term bonds due 2033 and 2038, according to a preliminary official statement.

JPMorgan Chase & Co., Lehman Brothers and UBS Investment Bank are the lead managers.

Bear, Stearns & Co.; Citigroup Global Markets; Banc of America Securities LLC; Depfa First Albany Securities LLC; Loop Capital Markets, LLC; Merrill Lynch & Co.; Morgan Stanley; M.R. Beal & Co.; Ramirez & Co., Inc.; Raymond James & Associates, Inc.; RBC Capital Markets; Roosevelt & Cross, Inc; Siebert Brandford Shank & Co., LLC; and Wachovia Bank NA are the co-managers.

Goldman, Sachs & Co. is the financial advisor for the city.

Proceeds will be used to finance transit and commuter projects, as well as to refinance debt held by the authority or MTA Bridges and Tunnels.

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