New York City to sell $790 million general obligation bonds Wednesday

By Sheri Kasprzak

New York, May 15 - New York City is scheduled on Wednesday to price $790 million in series 2009J general obligation bonds, according to a preliminary official statement.

The sale includes $600 million in series 2009J-1 bonds and $190 million in series 2009J-2 bonds.

Merrill Lynch & Co. Inc. is the senior manager for the sale. Co-managers include Citigroup Global Markets Inc.; J.P. Morgan Securities Inc.; Morgan Stanley & Co. Inc.; Barclays Capital Inc.; M.R. Beal & Co. Inc.; Goldman, Sachs & Co.; Jefferies & Co.; Loop Capital Markets LLC; Prager, Sealy & Co. LLC; Ramirez & Co. Inc.; RBC Capital Markets Inc.; Siebert Brandford Shank & Co. LLC; Wachovia Bank; Cabrera Capital Markets Inc.; Jackson Securities Inc.; Jackson Securities Inc.; Janney Montgomery Scott LLC; Raymond James & Associates Inc.; Roosevelt & Cross Inc.; Southwest Securities Inc.; and TD Securities.

The bonds are due 2011 to 2036.

Proceeds will be used to pay for capital expenses.

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