New York State Mortgage Agency to sell $80 million bonds Wednesday

By Sheri Kasprzak

New York, Jan. 12 - The New York State Mortgage Agency is scheduled to sell $80 million in homeowner mortgage revenue bonds on Wednesday, according to an offering calendar.

The sale includes $11.56 million in series 160 fixed-rate non-AMT bonds, $41.94 million in series 161 fixed-rate non-AMT bonds and $26.5 million in series 162 variable-rate non-AMT bonds.

The bonds (Aa1) will be sold on a negotiated basis with Citigroup Global Markets Inc. as lead for the fixed-rate bonds and sole manager for the variable-rate bonds.

Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Merrill Lynch & Co.; Ramirez & Co.; RBC Capital Markets Corp.; and Roosevelt & Cross are the co-managers for the fixed-rate bonds.

The series 160 bonds are due 2009 to 2018, and the series 161 bonds are due 2018 with term bonds due 2023, 2028, 2033 and 2039. The series 162 bonds are due April 1, 2039.

The variable-rate bonds initially reset at the weekly or daily rate modes.

Proceeds will be used for mortgage loans.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.