Phillips, Ted
February 2008
Bond Buyer;2/19/2008, Vol. 363 Issue 32818, p1
Trade Publication
The article reports on the plan of the New York government to convert all or some of its $3.5 billion of state-supported debt in auction-rate mode into variable rate demand bonds. The plan is stated in its request for proposals for liquidity and letter of credit facilities released by the government on February 15, 2008. It also wrote that the state will consider market conditions and all-in cost associated with the conversions when prioritizing the use of the facilities.


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