N.Y.C. Municipal Water Agency Readies $525M Sale.

The article reports on the plan of the New York City Municipal Water Finance Authority (MWFA) to sell $525 million of fixed-rate tax-exempt bonds to redeem outstanding commercial paper to refund outstanding bonds. The Series 2007A bonds will be sold and will not have a retail order period. According to MWFA spokesman Raymond Orlando, the maturity structure will likely be announced with the preliminary pricing wire. About $300 million of the proceeds will be used to redeem outstanding bonds.