New York City expects to price almost $1 billion of general obligation bonds on Dec. 18, and to tap its newly free-up credit enhancement capacity for the deal, a city official said yesterday.

The city also has decided to close the deal on Jan. 7 as a marketing strategy. Investors would be able to collect on some of the $13 billion in municipal bond coupon and principal payments made by issuers around the nation in early January and then use that money to buy city bonds, said Darcy Bradbury, deputy comptroller for the city.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.