New York City to convert $75 million in G.O. bonds

By Sheri Kasprzak

New York, July 17 - New York City intends to convert $75 million of its series 1994 and 1995 general obligation bonds, said a notice released Thursday.

The July 21 conversion includes $25 million in series 1994H-5 bonds and $50 million in series 1995B-4 bonds. The 1994 bonds will be converted to a daily rate mode from a commercial paper rate mode, and the 1995 bonds will be converted to a weekly rate from a daily rate.

JPMorgan is the remarketing agent for the 1994 bonds, and Citigroup Global Markets is the remarketing agent for the 1995 bonds.

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