By Stephen Nakrosis
The State of New York is selling some $541 million in general obligation bonds, with proceeds slated to support clean water projects, green jobs, environmental quality projects, and smart schools, among other programs.
The offering will consist of $339 million in Series 2025 A tax-exempt bonds, $8.5 million in Series 2025 B taxable bonds, and $193 million in Series 2025 C tax-exempt refunding bonds, according to offering documents on MuniOS on Monday.
The bonds are general obligations of New York State, and are backed by the full faith and credit of the state.
The Series 2025 A bonds will mature beginning on March 15, 2026, and continuing through March 15, 2044. Proceeds are slated to support clean water, transportation, smart schools, and clean air programs, among others.
Proceeds from the Series 2025 B bonds will be used for clean water and clean air programs, as well as for transportation and smart school initiatives. The bonds will mature on March 15, 2026.
Depending on market conditions, the 2025 C bonds will be offered, with proceeds used to refund previously issued general obligation bonds. These bonds will mature starting on March 15, 2026, and running through March 15, 2040.
Electronic bidding on the bonds will take place on March 18, for an expected delivery date of March 26.
The bonds have not been rated
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 11, 2025 15:14 ET (19:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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