August 29, 2013 / 6:12 PM / 4 years ago

New York Housing Development Corp sells $656.25 million tax-exempt bonds

NEW YORK, Aug 29 (Reuters) - New York City Housing Development Corporation sold on Thursday$656.25 million of tax-exempt revenue bonds on behalf of the New York City Housing Authority (NYCHA).

The longest maturity bonds, with a due date of 2033 and a 5 percent coupon, priced with a yield of 5.04 percent. The bonds are rated AA- by Standard&Poor‘s.

Top-rated AAA bonds traded with a yield of 4.19 percent in the secondary market on Wednesday, according to Municipal Market Data’s (MMD) AAA scale.

J.P. Morgan Securities was the underwriter for the deal.

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