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Article: Retail Market: New York City's $950M GO Sale Pushed Back a Week.
- Article from:
- The Bond Buyer
- Article date:
- December 1, 2004
- Author:
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Retail investors are expected to turnout in big numbers for New York City's $950 million general obligation bond sale next Wednesday, the city's final GO offering of 2004.
Originally scheduled for today, the pricing was delayed a week to avoid a crowd of other New York issuers in the primary market. The deal includes $550 million of debt for ongoing capital projects and $400 million of refunding bonds, though the size of the refunding component may change depending on market conditions, city officials said.
Many traders expect strong investor interest in the GO bonds because New York City paper has generated higher yields even as spreads have narrowed ...