Muni Yields Fall 4 to 7 Basis Points; $483M of N.Y. MTA Bonds Repriced

Chesla, Nicholas; Johnson, Anastasija
May 2003
Bond Buyer;5/8/2003, Vol. 344 Issue 31631, p2
Trade Publication
The Municipal bond yields fell between four and seven basis points on May 8, 2003 while underwriters lowered yields by two or three basis points, depending upon the maturity, at a repricing of 483 million dollars of New York's Metropolitan Transportation Authority (MTA) transportation revenue bonds. In the municipal arena, cash bond yields fell four to seven basis points overall, taking a cue from strength at the long end of the Treasury market. In the new-issue market, First Albany Corp. priced and repriced 483 million dollars of MTA transportation revenue bonds. Bonds due 2009 through 2019 and 2032 are insured by Financial Guaranty Insurance Co. while bonds due 2008, 2020 through 2028, the second part of a 2006 maturity, and the second part of a 2007 maturity are insured by Financial Security Assurance Inc.


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