TITLE

New York Start4e HFA Lines Up Possible Swap for $310M Deal

AUTHOR(S)
McDonald, Michael
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/30/2004, Vol. 350 Issue 32040, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the New York State Housing Finance Agency (HFA) has lined up a possible fixed-to-floating interest rate swap, following Governor George Pataki's plan to do up to $ 1 billion of the deals on state-supported debt this fiscal year. The agency last week confirmed that it could use the derivative in conjunction with a $310 million personal income tax revenue bond refunding that the state's Public Authorities Control Board recently approved. The state budget division in June asked the HFA and four other state agencies to approve doing up to $1 billion of synthetic floating-rate swaps this year and another $1 billion next year.
ACCESSION #
15509730

 

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