New York City Municipal Water offers $300 million of revenue bonds

By Sheri Kasprzak

New York, Jan. 15 - The New York City Municipal Water Finance Authority is expected to sell $300 million in series 2009EE water and sewer system second general resolution revenue bonds, according to a preliminary official statement.

The offering is set to price in January.

The bonds (Aa3/AA+/AA) will be sold on a negotiated basis with Siebert Brandford Shank & Co. as the lead manager.

The co-managers are Depfa First Albany Securities; Merrill Lynch & Co.; M.R. Beal & Co.; Banc of America Securities LLC; Barclays Capital Inc.; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Morgan Stanley & Co. Inc.; Raymond James & Associates; Wachovia Bank; Piper Jaffray; Prager, Sealy & Co.; RBC Capital Markets Corp.; and Roosevelt & Cross Inc.

Proceeds will be used for construction projects.

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