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The City of New York Announces Successful Sale of $1.5 Billion of General Obligation Bonds

October 9, 2025

The City of New York (the “City”) announced the successful sale of $1.5 billion of tax-exempt, fixed rate General Obligation bonds.

Proceeds from the sale will be used to fund capital projects.

The City received over $356 million of orders during the retail order period and $2.3 billion of priority orders during the institutional order period, which in total represents 1.8x the bonds offered for sale.

Final yields ranged from 2.46% in 2027 to 4.66% for the 5% coupon bonds maturing in 2055.

The bonds were underwritten through a syndicate led by led by joint senior managers J.P. Morgan and Blaylock Van, with BofA Securities, Jefferies, Loop Capital Markets, Ramirez & Co., Inc., RBC Capital Markets, Siebert Williams Shank, and Wells Fargo Securities serving as co-senior managers.

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$301.74 billion
Aug
2025