The New York City Housing Development Corp. approved a new expanded slate of underwriters and up to $236 million of bonds at its monthly board meeting yesterday.

The HDC had been thinking about putting out a new request for proposals earlier this year. However, it wasn't in a hurry until trouble in the credit markets began to reduce the number of approved underwriters, such as UBS Securities LLC and Bear, Stearns & Co., which either dropped out of public finance or disappeared, said HDC president Marc Jahr.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.