NYC Offering Almost $1.5B in GO Bonds

Dow Jones

2025/02/27

By Stephen Nakrosis

New York City is offering almost $1.5 billion in general obligation bonds, with proceeds slated for municipal capital purposes, refunding of prior issuances, and to purchase bonds being converted to a fixed rate.

The city will offer $500 million in Fiscal 2025 Series E bonds, $906.8 million of Fiscal 2025 Series F bonds, and $68 million of Fiscal 2006 Series I, Subseries I-6 reoffering bonds, according to roadshow documents on MuniOS. All bonds are tax exempt, and are rated AA by S&P and Fitch, and Aa2 by Moody's.

The Series E bonds will begin maturing on August 1, 2026, with the final bonds maturing on August 1, 2055. The Series F bonds begin maturing on August 1, 2025, with the final bonds maturing on Aug. 1, 2043, according to offering documents posted on MuniOS.

The Fiscal 2006 Series I, Subseries I-6 bonds begin maturing on April 1, 2028, with the final bonds maturing on April 1, 2036. Proceeds from these bonds will be used to pay the purchase price of bonds being converted to a fixed rate.

The retail order period for the bonds is March 4, with the institutional pricing taking place the next day. The closing date for the offering is March 20.

All bonds will be secured by the faith and credit of New York City.

Ramirez & Co. are listed as the lead manager for the offerings.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 26, 2025 18:11 ET (23:11 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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All bonds are tax exempt, and are rated AA by S&amp;P and Fitch, and Aa2 by Moody's. \n</p>\n<p>\n  The Series E bonds will begin maturing on August 1, 2026, with the final bonds maturing on August 1, 2055. The Series F bonds begin maturing on August 1, 2025, with the final bonds maturing on Aug. 1, 2043, according to offering documents posted on MuniOS. \n</p>\n<p>\n  The Fiscal 2006 Series I, Subseries I-6 bonds begin maturing on April 1, 2028, with the final bonds maturing on April 1, 2036. Proceeds from these bonds will be used to pay the purchase price of bonds being converted to a fixed rate. \n</p>\n<p>\n  The retail order period for the bonds is March 4, with the institutional pricing taking place the next day. 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