NYC’s Whitney Museum Pares Yield on Doubled Demand: Muni Credit
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New York’s Whitney Museum of American Art, which is borrowing for the first time to build a new site in lower Manhattan, pared back yields after investors placed orders for more than twice the $125 million offering.
“Institutional investors have plenty of room for this name because they don’t have any credit exposure to it,” said Fred Yosca, head of fixed-income trading at BNY Mellon Capital Markets LLC in New York.