New York Urban Development plans $827.55 million sale of revenue bonds

By Sheri Kasprzak

New York, March 6 - The New York State Urban Development Corp. is set to price $827.55 million of series 2013 general purpose state income tax revenue bonds, said a preliminary official statement.

The sale includes $556,695,000 of series 2013A-1 bonds, $68,975,000 of series 2013A-2 bonds and $201.88 million of series 2013B taxable bonds.

The bonds will be sold through Wells Fargo Securities LLC and RBC Capital Markets LLC. The co-managers are Ramirez & Co. Inc., Rice Financial Products Co., BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., Goldman, Sachs & Co., Jefferies & Co., M.R. Beal & Co., Loop Capital Markets LLC, BNY Mellon Capital Markets LLC, Blaylock Robert Van LLC, CastleOak Securities LP, Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, KeyBanc Capital Markets Inc., Lebenthal & Co., M&T Securities Inc., Mesirow Financial Inc., Oppenheimer & Co., Piper Jaffray & Co., Prager, Sealy & Co. LLC, Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Southwest Securities Inc., Sterne, Agee & Leach Inc., Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC, the Williams Capital Group LP and US Bancorp Investments Inc.

The 2013A-1 bonds are due 2019 to 2043 and the 2013A-2 bonds are due 2014 to 2026. The 2013B bonds are due 2014 to 2019.

Proceeds will be used to finance economic development projects.

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