NYW Logo
 
 The Official Home Page of The NYC Municipal Water Finance Authority
 
  About Us  |   Investor Information  |  Documents   |  Links  |   Contact Us
     
 

 

 

NYW Press Release
Date: April 4, 2003
Contact: Raymond J. Orlando, Director of Investor Relations
212-788-5875

NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY ANNOUNCES DETAILS OF UPCOMING $575 MILLION NEW MONEY BOND SALE

The New York City Municipal Water Finance Authority ("NYW") announced today that it intends to sell approximately $375 million of Fiscal Year 2003 Series E fixed-rate tax-exempt bonds on April 9, 2002 and an additional $200 million in Fiscal Year 2003 Series F tax-exempt variable rate bonds on or about May 1, 2003.

The financing will use NYW’s underwriting syndicate, with Merrill Lynch & Co. serving as book-running senior manager for the transaction. First Albany, Goldman Sachs, and UBS Paine Webber will serve as co-senior managers. As is customary, NYW will not be offering a retail order period on the sale.

The bonds will be sold in a combined plan of finance with the New York State Environmental Facilities Corporation sale of approximately $300 million of tax-exempt fixed-rate new money bonds on April 15, 2003.

Moody’s Investors Service rates the NYW at Aa2, Standard & Poor’s rates the NYW at AA, and Fitch Ratings rates NYW at AA.

# # #

Go to NYW Home Page | NYC.gov Home Page
Mayor's Office | City Agencies | Services | News and Features | City Life | Contact Us | Search