New York State Urban Development to sell $124.13 million revenue bonds

By Sheri Kasprzak

New York, Aug. 20 - The New York State Urban Development Corp. intends to sell $124.13 million in series 2008C service contract revenue refunding bonds, according to a preliminary official statement released Wednesday.

The bonds (/AA-/A+) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager.

The co-managers are J.P. Morgan Securities Inc.; Ramirez & Co.; Banc of America Securities LLC; Citigroup Global Markets; Lehman Brothers; Merrill Lynch; Morgan Stanley; Depfa First Albany Securities; KeyBanc Capital Markets; Loop Capital Markets; M.R. Beal & Co.; Prager, Sealy & Co.; Raymond James & Associates; RBC Capital Markets; Roosevelt & Cross; Siebert Brandford Shank & Co.; and Wachovia Bank.

The bonds are due 2017 to 2030.

Proceeds will be used to refund the corporation's outstanding series 2002B-1 bonds.

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