Dasny to price $528.25 million improvement revenue bonds in five tranches

By Cristal Cody

Springdale, Ark., June 19 - The Dormitory Authority of the State of New York plans to price $528.245 million mental health services facilities improvement revenue bonds in five tranches, according to a preliminary official statement.

The sale includes $161.755 million series 2008A, $79.95 million series 2008B, $37.57 million series 2008C, $207.37 million series 2008D and $41.6 million series 2008E bonds.

J.P. Morgan Securities is the senior manager of the negotiated sale.

Co-managers are Lehman Brothers; Goldman, Sachs & Co.; Merrill Lynch; Ramirez & Co.; Wachovia Bank, NA; Cain Brothers & Co.; Depfa First Albany Securities LLC; Jackson Securities; Morgan Stanley; Raymond James & Associates; Roosevelt & Cross Inc.; and Sterne, Agee & Leach Inc.

Proceeds will be used to refund outstanding bonds, refinance state facilities and fund facility projects, including at the Greater Binghamton Health Center, Bronx Children's Psychiatric Center, Kingsboro Addiction Treatment Center and St. Vincent's Services.

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