TITLE

Synthetic Debt Strategy

AUTHOR(S)
McDonald, Michael
PUB. DATE
June 2004
SOURCE
Bond Buyer;6/21/2004, Vol. 348 Issue 31909, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that the administration of New York Governor George E. Pataki has asked state agencies to approve up to two billion dollars of synthetic variable-rate debt swaps. Names of agencies asked; Aim of helping the state ton control state-supported debt service costs; Plan to do deals with Wall Street banks and enter into contracts that would change the interest rate exposure on existing fixed-rate bonds to a floating-rate derived from the swap market.
ACCESSION #
13518222

 

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