New York State Urban Development plans $503.18 million refunding bonds

By Sheri Kasprzak

New York, May 20 - The New York State Urban Development Corp. announced plans to price $503.18 million in series 2010A service contract revenue refunding bonds, according to a preliminary official statement.

The offering includes $221.735 million in series 2010A-1 bonds and $281.445 million in series 2010A-2 bonds.

The bonds will be sold on a negotiated basis with Wells Fargo Securities LLC and Siebert Brandford Shank & Co. LLC as the senior managers. The co-managers are Barclays Capital Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; Loop Capital Markets LLC; J.P. Morgan Securities Inc.; Morgan Stanley & Co. Inc.; Ramirez & Co. Inc.; Rice Financial Products Co.; BB&T Capital Markets; M.R. Beal & Co. Inc.; Cabrera Capital Markets LLC; Fidelity Capital Markets Services Inc.; Jackson Securities LLC; Janney Montgomery Scott LLC; Jefferies & Co.; Lebenthal & Co.; Mesirow Financial Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co.; Raymond James & Associates Inc.; RBC Capital Markets Corp.; Roosevelt & Cross Inc; Sterne, Agee & Leach Inc.; Stifel, Nicolaus & Co.; and Stone & Youngberg.

Both the series 2010A-1 and the series 2010A-2 bonds are due 2011 to 2022.

Proceeds will be used to refund the corporation's series 2008 bonds.

The corporation, based in New York, provides affordable housing for low- to moderate-income families and individuals.

© 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.