New York City organizes $425 million general obligation bond offering

By Sheri Kasprzak

New York, Sept. 20 - The City of New York plans to price $425 million of series 2014D general obligation bonds, according to a preliminary official statement.

The deal includes $300 million of series 2014D-1 tax-exempt bonds and $125 million of series 2014D-2 taxable bonds.

The bonds will be sold on a negotiated basis with Siebert Brandford Shank & Co. LLC as the senior manager.

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

Both tranches are due 2014 to 2033.

Proceeds will be used to finance capital expenditures within the city.

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