News
The City Of New York Announces Details of Its Upcoming Sale of $1.1 Billion General Obligation Bonds
The City of New York (“the City”) announced today the details of its upcoming sale of approximately $1.1 billion of tax-exempt, fixed rate General Obligation bonds.
Proceeds from the sale will be used to fund capital projects and convert certain issues of floating rate debt to fixed rate debt.
Subject to market conditions, the pricing for the bonds will take place on Wednesday, October 7, 2020, via negotiated sale through the City’s underwriting syndicate led by book-running lead manager Siebert Williams Shank, with BofA Securities, Citigroup, J.P. Morgan, Jefferies, Loop Capital Markets, Ramirez & Co., RBC Capital Markets and Wells Fargo Securities serving as co-senior managers.
Individual investors will have priority in placing orders for the bonds on Monday, October 5, 2020 and Tuesday, October 6, 2020.
The Preliminary Official Statement and Preliminary Reoffering Circular are available at www.MuniOS.com and www.nyc.gov/bonds.