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Article: Rhode Island authority to tap market twice, with new money, advance refunding issues. (Rhode Island Convention Center Authority)(Deal in the Spotlight)
- Article from:
- The Bond Buyer
- Article date:
- July 13, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Rhode Island Convention Center Authority is scheduled to sell competitively a $95 million new money issue tomorrow, as the specter of a yet unsold $225 million advance refunding looms on the horizon.
In May, the authority announced its intention to sell the refunding bonds through negotiated sale, but market conditions have stalled the deal's pricing since it was announced, according to both financial and legal officials involved with the sale.
The $225 million sale would mark the first negotiated sale the authority has undertaken. Authority officials said this was necessary because of the mercurial relationship between market conditions and federal ...