For the first time ever, New York City is expected today to price a general obligation issue using minority-owned firms as bookrunning senior managers.

The $300 million fixed-rate deal will feature Grigsby Brandford & Co., a San Francisco, Calif.-based minority bond firm, and Pryor, McClendon, Counts & Co., a Philadelphia-based minority-owned firm. In March, city officials appointed both firms to its emerging managers underwriting group, a special bracket designed to give minority-owned firms the opportunity to gain bond market experience.

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