New York City to price $500 million of fiscal series 2014A G.O.s in two tranches

By Cristal Cody

Tupelo, Miss., July 18 - The City of New York expects to price $500 million of fiscal series 2014A general obligation bonds through negotiated and competitive sales, according to a preliminary official statement.

The city will sell $375 million of sub-series A-1 tax-exempt bonds through a negotiated offering and $125 million of sub-series A-2 taxable bonds via a competitive sale on July 24.

J.P. Morgan Securities Inc. is the bookrunner for the negotiated offering.

Co-managers include BofA Merrill Lynch; Citigroup Global Markets Inc.; Jefferies & Co.; Morgan Stanley & Co. LLC; Siebert Brandford Shank & Co., LLC; Barclays; M.R. Beal & Co.; Fidelity Capital Markets LLC; Goldman, Sachs & Co.; Janney Montgomery Scott LLC; Lebenthal & Co., LLC; Loop Capital Markets LLC; PNC Capital Markets LLC; Ramirez & Co., Inc.; Raymond James/Morgan Keegan; RBC Capital Markets; Rice Financial Products Co.; Roosevelt & Cross Inc.; Southwest Securities, Inc.; Wells Fargo Securities LLC; Blaylock Robert Van, LLC; Cabrera Capital Markets, LLC; Drexel Hamilton, LLC and TD Securities (USA) LLC.

Public Resources Advisory Group is the financial advisor on the competitive sale.

The bonds have serial maturities from 2015 through 2039.

Proceeds will be used for capital purposes.

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