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New York Urban Development offers $1.23 billion tax revenue bonds
By Cristal Cody
Eureka Springs, Ark., March 3 – New York State Urban Development Corp. is offering $1,230,130,000 of state personal income tax revenue bonds (/AAA/AA+), according to a preliminary official statement.
The series 2016A general purpose bonds have serial maturities from 2018 through 2038.
The bonds will be sold in a negotiated offering led by senior managers BofA Merrill Lynch, Citigroup Global Markets Inc. and Ramirez & Co., Inc.
The syndicate also includes Barclays; Goldman Sachs & Co.; Jefferies & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Morgan Stanley & Co. LLC; RBC Capital Markets LLC; Rice Financial Products Co.; Siebert Brandford Shank & Co., LLC; Wells Fargo Securities LLC; Blaylock Beal Van, LLC; BNY Mellon Capital Markets, LLC; Fidelity Capital Markets LLC; Janney Montgomery Scott LLC; KeyBanc Capital Markets Inc.; Lebenthal & Co., LLC; M&T Securities, Inc.; Mesirow Financial, Inc.; Oppenheimer & Co., Inc.; Piper Jaffray & Co.; Raymond James/Morgan Keegan; Roosevelt & Cross, Inc.; Southwest Securities, Inc.; Stifel, Nicolaus & Co. Inc.; TD Securities (USA) LLC; Williams Capital Group, LP; and U.S. Bancorp Investments, Inc.
Proceeds will be used to refund certain outstanding state personal income tax revenue bonds and other state-supported debt previously issued.
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