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New York State Mortgage Agency plans $123.84 million of revenue bonds
By Sheri Kasprzak
New York, March 4 - The New York State Mortgage Agency is set to price $123.84 million of homeowner mortgage revenue bonds, according to a preliminary official statement.
The offering includes $12 million of series 185 non-AMT bonds, $71.64 million of series 186 AMT bonds and $40.2 million of series 187 taxable bonds.
The bonds will be sold through senior manager BofA Merrill Lynch. The co-managers are J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Academy Securities Inc., Barclays, CastleOak Securities LP, George K. Baum & Co., Loop Capital Markets LLC, M&T Securities Inc., Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.
The series 185 bonds are due Oct. 1, 2029. The series 186 bonds are due 2019 to 2025 with a term bond due in 2029. The series 187 bonds are due 2014 to 2018.
Proceeds will be used to purchase recently originated mortgage loans, purchase new mortgage loans and finance second-lien Down Payment Assistance Mortgage Loans.
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