March 6, 2013 / 3:41 PM / in 5 years

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.

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