New York Municipal Bond Bank to sell $189.29 million recovery act bonds week of Dec. 14

By Sheri Kasprzak

New York, Dec. 11 - The New York Municipal Bond Bank Agency plans to price its previously announced $182.29 million in series 2009 recovery act bonds during the week of Dec. 14, according to a sales calendar.

The deal includes $50.4 million in series 2009A bonds, $33.169 million in series 2009B bonds and $105.721 million in series 2009C bonds.

The bonds will be sold through lead manager Jefferies & Co. The co-managers are M.R. Beal & Co., RBC Capital Markets Corp. and Wells Fargo Securities Inc.

The 2009A-1 bonds are due 2010 to 2020, the 2009A-2 bonds are due 2013 to 2019 with a term bond due 2024 and the 2009A-3 bonds are due 2024 and 2029. The 2009B-1 bonds are due 2010 to 2029 with a term bond due 2035 and the 2009B-2 bond are due 2029 and 2033. The 2009B-3 bonds are due 2035.

The 2009C-1 bonds are due 2011 to 2023 and the 2009C-2 bonds are due 2013 to 2019 with a term bond due 2028. The 2009C-3 bonds are due 2029.

Proceeds will be used to distribute funds to local municipalities for various uses.

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