POWER AUTHORITY PLANS BOND REFUNDING
POWER AUTHORITY PLANS BOND REFUNDING NEW YORK, Nov. 1 /PRNewswire/ --New York Power Authority Chairman
Richard M. Flynn announced Friday that the Power Authority plans a refunding of its Series J 9-7/8 percent General Purpose Bonds, due Jan. 1, 2020.
The financing, tentatively scheduled for late November, will refund approximately $188 million in bonds. It will reduce the Power Authority's debt payments, with resuting savings for electricity consumers. The bonds to be refunded were issued in October 1980. Sale of the refunding issue will be managed by the First Boston Corporation. Co-managers will be Goldman Sachs & Co.; PaineWebber Incorporated; Lehman Brothers; Bear, Stearns & Co. Inc.; J.P. Morgan Securities Inc.; Prudential Securities Incorporated; and Smith Barney, Harris Upham & Co. Incorporated. -0- 11/1/91 /CONTACT: Stephen Shoenholz of New York Power Authority, 212-468-6313/ CO: New York Power Authority ST: New York IN: UTI SU: OFR SM -- NY066 -- 0336 11/01/91 15:41 EST
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|Date:||Nov 1, 1991|
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