New York Power Authority Agrees To Sell Over $530 Million In Bonds

Contact
Connie M. Cullen
914-390-8196, 8198

connie.cullen@nypa.gov

October 9, 2002

FOR IMMEDIATE RELEASE

WHITE PLAINS—The New York Power Authority (NYPA) announced Wednesday (Oct. 9) that they had agreed to sell $532,250,000 of Series 2002 A Revenue Bonds.

This tax-exempt issue of serial bonds is priced to yield 1.90 percent for bonds due on Nov. 15, 2005 to 4.61 percent for the Nov. 15, 2022 maturity.

NYPA expects to sign a bond purchase contract with the underwriters on Thursday (Oct. 10).

The senior managers for the Series 2002 A issue are Salomon Smith Barney, Goldman Sachs & Co., UBS PaineWebber Inc., JPMorgan, Morgan Stanley & Co. Incorporated and Bear, Stearns & Co. Inc.