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

McDonald, Michael
December 2004
Bond Buyer;12/30/2004, Vol. 350 Issue 32040, p1
Trade Publication
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.


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