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Article: Detailed Plan Wanted From Nassau, N.Y.; Concerns About Access to Market.
- Article from:
- The Bond Buyer
- Article date:
- February 14, 2000
- Author:
CopyrightCOPYRIGHT 2000 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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With financially troubled Nassau County, N.Y., scheduled to sell $240 million of bonds next month, market professionals are raising questions about whether the county should continue to rely on competitive sales to tap the bond market, as well as whether the market will continue to give Nassau unfettered support.
While the March 7 sale is still expected to feature a competitive bidding process, some market professionals are suggesting that the county would have a better shot at making its case to retail buyers -- and at getting the best interest rate -- if it names a slate of underwriters in advance and sells the bonds to them through negotiation.
And ...