WASHINGTON -- Prudential Securities Inc. has been named to head a team of 10 investment firms selected to underwrite the District of Columbia's $250 million note sale planned for Dec. 29, district officials announced yesterday.
Besides Prudential, which was named senior bookrunning manager, Goldman, Sachs & Co. was also named co-senior book running manager, the officials said.
The other eight members of the underwriting team selected to underwrite the issue include: Bear, Stearns & Co.; Corby North Bridge Securities Inc.; Dillon, Read & Co.; Donaldson, Lufkin & Jenrette Securities Corp., Merrill Lynch & Co., PaineWebber Inc.; Pryor, McClendon, Counts & Co.; and Smith Barney Inc.
District officials are expected to announce this Friday the names of the two banks that submitted bids to provide letters of credit to back the note sale which is needed to keep the city from running out of cash.
