Archive for November 2nd, 2009
New York Tobacco Refinancing Might Yield $500 Million
Oct. 30 (Bloomberg) — Tobacco bonds that helped New York close a budget deficit in 2003 could be refinanced and provide $500 million to help eliminate this year’s $3.2 billion spending gap, according to a plan bankers presented to state officials.
The proposal by Morgan Stanley and Bank of America Corp.’s Merrill Lynch & Co. would [...]
