New York Housing Development Corp sells $656.25 million tax-exempt bonds
NEW YORK Aug 29 (Reuters) - New York City Housing Development Corporation sold on Thursday$656.25 million of tax-exempt revenue bonds on behalf of the New York City Housing Authority (NYCHA).
The longest maturity bonds, with a due date of 2033 and a 5 percent coupon, priced with a yield of 5.04 percent. The bonds are rated AA- by Standard&Poor's.
Top-rated AAA bonds traded with a yield of 4.19 percent in the secondary market on Wednesday, according to Municipal Market Data's (MMD) AAA scale.
J.P. Morgan Securities was the underwriter for the deal.