New York Municipal Bond Bank offers $50.67 million recovery act bonds

By Sheri Kasprzak

New York, Nov. 10 - The New York State Municipal Bond Bank Agency is preparing to sell $50.67 million of series 2010 recovery act bonds, according to a preliminary official statement.

The offering includes $4.745 million of series 2010C bonds (Aa2) and $45.925 million of series 2010D bonds (Aa3).

The 2010C bonds include $1.595 million of series 2010C-1 tax-exempt bonds and $3.15 million of series 2010C-2 Build America Bonds and recovery zone bonds. The 2010D bonds include $25.15 million of series 2010D-1 tax-exempt bonds and $20.775 million of series 2010D-2 BABs and recovery zone bonds.

The bonds will be sold on a negotiated basis with Jefferies & Co. as the senior manager. The co-managers are Bank of America Merrill Lynch, Loop Capital Markets LLC, Ramirez & Co. Inc. and Roosevelt & Cross Inc.

The maturities have not been set.

Proceeds will be used to purchase local America Recovery and Reinvestment Act bonds.

© 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.