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Article: United States : New York Sets $100M Student Loan Bonds Deal.
- Article from:
- TendersInfo
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. 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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Byline: datta03
New York State plans to market $100 million of tax-exempt fixed-rate student loan bonds this week under a new program. The New York Higher Education Finance Authority will offer the debt to retail investors tomorrow, with institutional sales beginning on Thursday.
Banc of America-Merrill Lynch will lead manage the deal. Morgan Stanley is co-senior manager. Hawkins Delafield & Wood LLP is bond counsel.
The bonds will be sold as serial and term bonds with maturities from 2012 to 2026.
The bond proceeds will be used to purchase student loans under the New York Higher Education Loan Program, or -NYHELP, which was created by ...