New Mexico postpones sale of $500 million TRANs

By Sheri Kasprzak

New York, Nov. 12 - The state of New Mexico has delayed the sale of $500 million in series 2008-09 tax and revenue anticipation notes, according to a calendar of upcoming sales.

The notes (MIG1/SP-1+/) had been scheduled to price Thursday. No new pricing date has been set at this time.

The notes, which are due June 30, 2009, will be sold on a competitive basis with Fiscal Strategies Group as the financial adviser.

Proceeds will pay for capital expenses until taxes are collected.

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