New York City on Friday made all but official the selection of four firms to serve as senior managers for its general obligation bond syndicate and two firms for its Water Authority team, but failed to reach a conclusion on the structure of its co-managers group, city sources say.

According to city sources, the city will probably appoint Goldman, Sachs & Co.; J.P. Morgan Securities; Merrill Lynch & Co.; and Prudential Securities Inc. as senior managers on its general obligation team. Missing from the team will be three firms appointed last year: Bear, Stearns & Co.; CS First Boston; and Lehman Brothers.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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