New Jersey Selects J.P. Morgan for Bond Sale

  New Jersey Selects J.P. Morgan for Bond Sale

Business Wire

NEW YORK -- November 07, 2012

New Jersey selected J.P. Morgan to be sole manager for an upcoming $2.6
billion bond sale following a highly competitive selection process that was
arranged quickly after it became clear that Hurricane Sandy would make
landfall in the state. Proceeds will assist the state in meeting its cash flow
needs in the current fiscal year.

New Jersey cancelled its original plan for an auction of Tax Revenue
Anticipation Notes (TRANs) on October 30 and arranged a negotiated sale as
Sandy approached the East Coast and municipal markets became susceptible to
storm-related volatility and headline risk. J.P. Morgan will help New Jersey
complete its sale of annual TRANs sale by reaching out to investors who
understand that New Jersey is a strong credit that has never failed to meet
its debt obligations.

“We have more than 30,000 employees and 10 million customers in the tri-State
area. This storm hit home for all of us,” said Matt Zames, co-Chief Operating
Officer of JPMorgan Chase. “J.P. Morgan wants to be part of the rebuilding
process that restores New Jersey’s communities and the Jersey Shore. We think
investors will want to be there, too."

J.P. Morgan is the top-ranked underwriter in U.S. municipal finance, including
short-term municipal notes.

About J.P. Morgan’s Corporate & Investment Bank

J.P. Morgan’s Corporate & Investment Bank is a global leader across banking,
markets and investor services. The world’s most important corporations,
governments and institutions entrust us with their business in more than 100
countries. With $18 trillion of assets under custody and $393 billion in
deposits, the Corporate & Investment Bank provides strategic advice, raises
capital, manages risk and extends liquidity in markets around the world.
Further information about J.P. Morgan is available at www.jpmorgan.com.

Contact:

Media:
J.P. Morgan Chase & Co.
Elizabeth Seymour, 212-270-1778
elizabeth.c.seymour@jpmorgan.com
 
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