Date: Tuesday, July 20, 2004
Release No. 072004

Contact: Raymond J. Orlando, Dir. of Investor Relations 212-788-5875

NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY SELLS $150 MILLION IN TAX-EXEMPT BONDS

The New York City Municipal Water Finance Authority ("NYW") today announced the successful sale of its $150 million tax-exempt, fixed-rate Fiscal 2005 Series A Bonds.

Priority orders from institutional investors totaled $365 million for the $150 million of bonds offered during the institutional order period. As a result, the yield was lowered by 02 basis points in the final pricing. The structure included a single term bond in 2039 at a yield of 5.07%.

Siebert Brandford Shank Inc. was the book-running senior manager on the bonds, with First Albany Corporation, Goldman, Sachs, Merrill Lynch & Co. and UBS Financial Services Inc. serving as co-senior managers on today's transaction.

Standard & Poor's rates NYW at AA+, Moody's Investors Service rates NYW at Aa2, and Fitch, Inc. rates NYW at AA.

NYW Home | NYC.gov Home | Contact Us | FAQs | Privacy Statement | Site Map