TITLE

N.Y. Housing Agency Converts Auction-Rate Bonds to VRDOs

AUTHOR(S)
Phillips, Ted
PUB. DATE
February 2008
SOURCE
Bond Buyer;2/11/2008, Vol. 363 Issue 32813, p44
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plan of the New York State Housing Finance Agency (HFA) to convert $173.3 million of auction-rate bonds into variable-rate demand obligations. These bonds were sold in 2005 to finance the construction of a multifamily housing development in Manhattan, a joint venture of TFJ Estates LLC and Rosekey Associates LLC. According to HFA, the move aims to take away the bonds out of the volatile auction-rate market, with transaction rates exceeding 6%.
ACCESSION #
29727793

 

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