New York City General Obligation Bonds
The Mayor’s Office of Management and Budget and the City Comptroller’s Office conducted an RFP process for underwriters for the City of New York General Obligation (G.O.) bonds. The senior managers selected to underwrite the G.O. bonds are Morgan Stanley, Merrill Lynch & Co., Bear, Stearns & Co. Inc. and Citigroup. The senior co-managers for the G.O. bonds are A.G. Edwards & Sons, Inc., Loop Capital Markets, LLC, Banc of America Securities LLC, Wachovia Bank, National Association, RBC Capital Markets, Siebert Brandford Shank & Co., LLC, Prager, Sealy & Co. LLC, M.R. Beal & Company, Ramirez & Co., Inc, First Albany Capital Inc., Goldman, Sachs & Co., JPMorgan, Lehman Brothers and UBS Securities, LLC. The co-managers for the G.O. bonds are Cabrera Capital Markets, Inc., Commerce Capital Markets, Inc., Jackson Securities, Janney Montgomery Scott LLC, Popular Securities, Inc., Raymond James & Associates, Inc., Roosevelt & Cross Incorporated, and Southwest Securities, Inc.

New York City Transitional Finance Authority
The New York City Transitional Finance Authority (TFA) in conjunction with the Mayor’s Office of Management and Budget and the City Comptroller’s Office conducted an RFP process for underwriters for the TFA. The senior managers selected to underwrite the TFA bonds are Goldman, Sachs & Co., Lehman Brothers, JPMorgan and Morgan Stanley. The senior co-managers for the TFA bonds are Loop Capital Markets, LLC, Banc of America Securities LLC, Wachovia Bank, National Association, Roosevelt & Cross, Incorporated, Siebert Brandford Shank & Co. LLC, M.R. Beal & Company, Ramirez & Co., Inc., Bear, Stearns & Co. Inc., Citigroup, First Albany Capital Inc., Merrill Lynch & Co., and UBS Securities, LLC. The co-managers for the TFA bonds are A.G. Edwards & Sons Inc., Commerce Capital Markets Inc., Cabrera Capital Markets, Inc., Jackson Securities Inc., Raymond James & Associates Inc., RBC Capital Markets and Ryan Beck & Co. Inc.

New York City Transitional Finance Authority Building Aid Bonds
The New York City Transitional Finance Authority (TFA) in conjunction with the Mayor’s Office of Management and Budget and the City Comptroller’s Office conducted an RFP process for underwriters for the TFA Building Aid Bonds. The senior managers selected to underwrite the TFA Building Aid bonds are Bear, Stearns & Co, Inc., Citigroup and Goldman, Sachs & Co. The senior co-managers for the TFA bonds are Loop Capital Markets LLC, Banc of America Securities LLC, Wachovia Bank, National Association, Roosevelt & Cross, Inc., Siebert Brandford Shank, MR Beal, Prager, Sealy & Co., Ramirez & Co., Inc., First Albany Capital Inc., JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley and UBS Securities, LLC. The co-managers for the TFA bonds are A.G. Edwards & Sons Inc., Jackson Securities Inc., Raymond James & Associates Inc., RBC Capital Markets, Ryan Beck & Co. Inc. and Southwest Securities, Inc.

New York City Municipal Water Finance Authority
The New York City Municipal Water Finance Authority (NYW) in conjunction with the Mayor’s Office of Management and Budget and the City Comptroller’s Office conducted an RFP process for underwriters for NYW bonds. The senior managers selected to underwrite NYW bonds are UBS Securities, LLC, Siebert Brandford Shank & Co., LLC, First Albany Capital Inc., M.R. Beal & Company, and Merrill Lynch & Co. The senior co-managers for NYW bonds are A.G. Edwards & Sons, Inc., Loop Capital Markets, LLC, Banc of America Securities LLC, Wachovia Bank, National Association, Raymond James & Associates, Inc., Bear, Stearns & Co. Inc., Citigroup, Goldman, Sachs, JPMorgan, Lehman Brothers and Morgan Stanley. The co-managers for NYW bonds are Piper Jaffray & Co., Prager, Sealy & Co., LLC, RBC Capital Markets, and Roosevelt & Cross, Incorporated.

As was the case in the last RFP process, the City has singled out three firms not selected as rotating senior managers which will be given the opportunity to earn the right to lead one or more financings of the City or of its financing authorities over the period until the next RFP is issued. These firms are Ramirez & Co., Inc., Banc of America Securities LLC, and Loop Capital Markets, LLC.

The City, the TFA and NYW reserve the right to reward ideas and performance by making appointments of firms to be book-running senior manager outside of the designated rotations or by assigning or reassigning firms among brackets or among the City’s various issuers.

Forward Calendar
The City also announced today the forward calendar for its bond issuing entities.

The first issuance of City General Obligation bonds will be a refunding expected to be issued during the week of August 7. The book-running senior manager will be Morgan Stanley.

The first issuance of TFA Building Aid Bonds is expected in September with Bear, Stearns & Co. Inc. as book-running senior manager.

The first issuance of TFA Bonds backed, as has historically been the case, by the City’s personal income tax and sales tax, will be in the fall. The book-running senior manager will be Goldman, Sachs & Co.

The first issuance of bonds by the New York City Municipal Finance Water Authority will also be in the fall and will be led by UBS Securities, LLC.

The size and other details with respect to these financings will be provided in subsequent announcements.

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