UPDATE 1-NYS Urban Development Corp to sell $827.6 mln revs -market source
March 6 (Reuters) - The New York State Urban Development Corp is expected to sell $827.55 million of state personal income tax revenue bonds on March 13, said a market source on Wednesday.
The Empire State Development Corp will serve as conduit for the sale.
The issue will consist of $625.67 million of tax-exempt bonds, including $556.695 million of series 2013A-1 and $68.975 million of series 2013A-2, which will be sold through negotiation on Wednesday. The retail period is Tuesday.
The competitive sale of $201.880 million of the federally taxable series 2013B will be on Wednesday.
The lead manager of the sale is Wells Fargo Securities, according to the preliminary official statement.