The new bonds were sold at an average yield of 9.33 percent.
That impact will become clear only if the new bond catches on.
But data are available on the amount of new bonds sold between 1986 and 1989.
More than $200 billion of new bonds were issued, twice the record set in 1985.
The central bank has also agreed to buy many new bonds itself.
Nothing could please me more than the new bond between them.
There will also be a commission to buy the new bonds.
However, these new bonds do not have an active secondary market.
But the new bonds have not yet reached the market.
So the city went ahead with its plan to sell new bonds this week to pay off the old debt.