New York Mortgage Agency to price $115.41 million revenue bonds

By Sheri Kasprzak

New York, March 17 - The New York State Mortgage Agency plans to sell $115.41 million of mortgage revenue bonds, according to a preliminary official statement. The agency also intends to convert $173.11 million of 38th series mortgage revenue bonds.

The new bonds will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. Inc., George K. Baum & Co., Goldman Sachs & Co., M&T Securities Inc., M.R. Beal & Co. Inc., Ramirez & Co. Inc., RBC Capital Markets LLC, Roosevelt & Cross Inc. and Siebert Brandford Shank & Co. LLC.

The sale includes $97.855 million of 46th series non-AMT bonds and $17.555 million of 47th series non-AMT bonds.

The 46th series bonds are due 2015 to 2023 with term bonds due 2027 and 2029. The 47th series bonds are due 2011 to 2015.

Proceeds will be used to make mortgage loans.

The agency also intends to convert $173.11 million of 38th series mortgage revenue bonds, including $138.11 million of non-AMT bonds and $35 million of AMT bonds.

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