New York Urban Development $298.55 million bonds have mandatory tender

By Melissa Kory

Cleveland, May 24 - New York State Urban Development Corp. said its $298.55 million of series 2004A-3 state personal income tax facilities and equipment revenue bonds due March 15, 2033 are subject to a mandatory tender for purchase on June 9 at par.

The mandatory tender is a result of the substitution of the bonds' liquidity facility with a standby bond purchase agreement between the issuer and JPMorgan Chase Bank, NA.

Bank of New York Mellon is the trustee.

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