New York State Electric & Gas to convert, tender $74 million bonds

By Cristal Cody

Springdale, Ark., May 30 - The New York State Energy Research and Development Authority plans to convert the interest rate on $74 million series 1994D1 and 1994D2 refunding revenue bonds, according to a notice released Friday.

The bonds, which priced for the New York State Electric & Gas Corp., will be changed to a weekly interest rate on July 15.

The bonds are subject to mandatory tender on the conversion date.

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