New York City Municipal Water Finance Authority to sell $400 million of revenue bonds Tuesday

By Sheri Kasprzak

New York, June 18 - The New York City Municipal Water Finance Authority plans to sell $400 million of fiscal 2010 series GG water and sewer second general resolution revenue bonds on Tuesday, according to a preliminary official statement.

The bonds (Aa2/AA+/AA+) will be sold through lead manager Morgan Keegan & Co. Inc.

The co-managers include Barclays Capital Inc.; Jefferies & Co.; M.R. Beal & Co.; Ramirez & Co. Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Fidelity Capital Markets; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Morgan Stanley & Co. Inc; Raymond James & Associates Inc.; RBC Capital Markets Inc.; Rice Financial Products Co.; Roosevelt & Cross Inc.; Siebert Brandford Shank & Co. LLC; Wells Fargo Bank, N.A.; BB&T Capital Markets; Lebenthal & Co. LLC; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; Stifel, Nicolaus & Co.; and Stone & Youngberg.

Proceeds will be used to redeem existing commercial paper notes and finance improvements to the city's water and sewer system.

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