The City of New York priced its $91.4 million tax lien securitization at 85 basis points over the Eurodollar synthetic forward curve (EDSF) for the 1.12- year, triple-A rated tranche.

According to a Citigroup securitization report, new issue spreads for these deals have ranged from 85 to 160 basis points since 2010 for triple-A rated classes with weighted average lives that range from 0.20 to 1.5 years.

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