TITLE

After Successful Debut, New York's CRC Looks to New Deals

AUTHOR(S)
Whalen, Robert
PUB. DATE
May 2006
SOURCE
Bond Buyer;5/30/2006, Vol. 356 Issue 32391, p52
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information about New York City's Capital Resources Corp.'s (CRC) Loan Enhanced Assistance Program (LEAP) and CRC's plans to publicize its services to nonprofit organizations through the program. The CRC has recently sealed its first tax-exempt, variable-rate bond financing for Maimonides Medical Center, a Brooklyn-based teaching hospital which borrowed roughly $31.2 million by issuing bonds through the CRC's LEAP. Banc of America Securities LLC is the program's underwriter, Winston & Strawn LLP is bond counsel, and Bank of America NA provides letters of credit to the issuers. Officials at the CRC have promoted the new program through a series of mailings, seminars, and a pair of road shows in Brooklyn and Bronx. CRC looks to new deals.
ACCESSION #
21043226

 

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