Empire State Development Corp. Trims Upcoming Deal to $322M

O'Brien, Elizabeth
May 2005
Bond Buyer;5/10/2005, Vol. 352 Issue 32129, p3
Trade Publication
The article reports that the Empire State Development Corp. plans to proceed with a sizable refunding despite weakening in the municipal market after stronger-than-expected employment numbers prompted a sell-off in Treasuries. It informs that officials bad planned to sell $330 million of fixed-rate service contract revenue refunding bonds, but the amount will likely go down to about $322 million, said ESDC chief financial officer Frances Walton. The market had been so volatile of late, Walton said.


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