The New York State Urban Development Corp. is planning to sell $2.3 billion in state personal income tax revenue bonds, according to preliminary documents posted on MuniOS.
- Sale is managed by BofA Securities, Jefferies and Loop Capital Markets and a syndicate including Barclays, Citigroup and Goldman Sachs & Co.
- Proceeds will be used to finance costs of projects and programs within the state including capital projects for economic development initatives, correctional facilities, State office buildings, etc. according to prospectus
- A portion of the debt will be used to refund existing bonds: Prospectus
- $28.4 million will be federally taxable with the...