NYSERDA Transcript 163rd Audit and Finance Committee Meeting 2026-04-29
NYSEG refunding bonds placed with Bank of America
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Description
NYSERDA's Audit and Finance Committee recommended a resolution authorizing up to $65 million in refunding bonds for NYSEG to be privately placed with Bank of America, replacing 2005 bonds and generating about $10.7 million in projected interest savings. The transaction must close before July 1, 2026 and comply with multiple state approvals.
Contract Details
Contract Amount
Aggregate principal amount not to exceed $65 million
Vendor
BANK OF AMERICA
Agency
New York State Energy Research and Development Authority, NY
Contract Type
FINANCIAL_SERVICES
Document Date
April 29, 2026
Contract Term
Refunding bonds must be issued before July 1, 2026; prior bonds have an attorney date of July 1, 2026
Renewal Date
2026-07-01
Renewal Info
Refunding bonds will replace prior 2005 series bonds held by Bank of America that mature July 1, 2026; issuance must occur before July 1, 2026.
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PENDINGIssuing Agency
New York State Energy Research and Development Authority
State
Albany, NY
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