TITLE

New York Power Authority Enters New Swap Contract With Merrill Lynch

AUTHOR(S)
Kaske, Michelle
PUB. DATE
July 2006
SOURCE
Bond Buyer;7/31/2006, Vol. 357 Issue 32434, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the New York Power Authority and Merrill Lynch & Co. agreed to a floating-rate-to-fixed-rate swap. The swap will hedge interest rate volatility and replace a three-year swap contract between NYPA and Goldman Sachs & Co. The swap is associated with variable debt sold in April 1985.
ACCESSION #
21877502

 

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