By Patrick Sheridan

The New York State Environmental Facilities Corporation is selling approximately $370 million in tax-exempt bonds for water pollution control and drinking water projects.

The Series 2025 C State Clean Water and Drinking Water Revolving Funds Revenue Bonds have maturities ranging from 2026 to 2045. Two term bonds will also be offered with maturities of 2050 and 2055.

Retail orders can be placed on July 14, with institutional pricing slated for July 15. Closing is scheduled for Aug. 5, according to the roadshow document that accompanied the preliminary official statement posted Wednesday on MuniOS.

Interest on the bonds is payable on June 15 and Dec. 15 of each year.

Proceeds will be used to provide assistance to the New York City Municipal Water Finance Authority to finance or refinance water pollution control projects and drinking water projects and to refund previously issued bonds.

The bonds are special limited obligations payable solely from repayments received on related bonds issued by the New York City Municipal Water Finance Authority and other moneys available in the General Reserve Fund among other accounts.

New York City is home to the largest engineered water system in the nation, supplying 1 billion gallons of water each day to approximately 8.5 million residents. The sewer system collects and treats an average of 1.2 billion gallons of wastewater per day according to the roadshow document.

S&P Global Ratings, Moody's Ratings and Fitch Ratings have rated the bonds AAA, Aaa and AAA, respectively.

BofA Securities is the lead underwriter.

Write to Patrick Sheridan at patrick.sheridan@wsj.com

(END) Dow Jones Newswires

July 03, 2025 11:59 ET (15:59 GMT)

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