NYC HDC Debt Report as of April 30, 2026
Citibank Swap Aids HDC Rate Risk Management
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Description
HDC leverages an interest rate swap with Citibank through May 2051 to reduce rate volatility on $98.9 million.
Contract Details
Contract Amount
$98,895,000 hedge outstanding, $98,895,000 notional
Vendor
CITIBANK
Agency
NYC Housing Development Corporation (HDC), NY
Contract Type
FINANCIAL_SERVICES
Document Date
May 28, 2026
Contract Term
7/1/2022 – 5/1/2051
Renewal Date
2051-05-01
Renewal Info
Expires on 5/1/2051; option to cancel 12/1/2043.
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RATIFIEDIssuing Agency
NYC Housing Development Corporation (HDC)
Public Authority
New York, NY
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