Birmingham, AL (February 9, 2009) – Sterne, Agee & Leach, Inc. served as lead underwriter for Westchester County, New York’s recent $50,880,000 bond issue. The 2009 Series C General Obligation Refunding Bonds were issued through Westchester County and security for the bonds is an ad valorem tax of the County. Sterne Agee was successful in helping the County take advantage of its AAA rated credit status and generated over $3.8 million in net present value savings for taxpayers through a refunding of existing higher interest debt.
The Firm has underwritten 57 transactions totaling more than $11.9 billion in municipal financings in New York State since 2003. In addition to its New York City office, Sterne Agee maintains public finance offices in Birmingham, Atlanta, Macon, Houston, San Antonio, Fort Lauderdale and Boston.
Founded in 1901, Sterne Agee is one of the oldest and largest privately-owned brokerage firms in the country. A member of the New York Stock Exchange, Sterne Agee has headquarters in Birmingham, Alabama, and offices in 22 states. For more information, visit www.sterneagee.com.
For more information, please contact:
Leah McKinney
Senior Vice President, Marketing
205.949.3564
lmckinney@sterneagee.com
David Weprin, Public Finance
212.763.8224
dweprin@sterneagee.com