Details emerge in Dasny $659.92 million bond offering week of Nov. 10

By Sheri Kasprzak

New York, Nov. 6 - The Dormitory Authority of the State of New York will price $659.92 million in series 2008 state personal income tax revenue bonds the week of Nov. 10, and the authority released additional details Thursday on the offering.

The sale includes $545.64 million in series 2008B educational revenue bonds and $114.28 million in series 2008C revenue refunding bonds. The 2008C sale includes $62.6 million in series 2008C educational bonds and $51.68 million in series 2008C economic development and housing bonds.

The bonds (//AA-) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager. The co-managers are Ramirez & Co.; Siebert Brandford Shank & Co.; Banc of America Securities LLC; Citigroup Global Markets; Goldman, Sachs & Co.; Janney Montgomery Scott; J.P. Morgan Securities Inc.; Merrill Lynch & Co.; Piper Jaffray; Raymond James & Associates; RBC Capital Markets; and Southwest Securities.

Proceeds from the sale will be used for capital improvements for some of the state's educational facilities, as well as for refunding outstanding bonds.

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