To cap off New York State's tobacco deals for the millenium, Nassau County recently completed its long-awaited settlement-backed securitization, following a month-long series of postponements related to ratings and bureaucratic issues.

Nassau County's deal was $294 million, with the maximum yield bonds pricing at approximately 663 basis points over Treasurys, roughly 20 basis points wider than the comparable bonds in New York City's $600 million transaction that priced the week prior.

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