Dasny to price $518.365 million health services bonds Monday

By Sheri Kasprzak

New York, June 27 - The Dormitory Authority of the State of New York plans to price its previously announced offering of $518.365 million in series 2008 mental health services facilities improvement revenue bonds on Monday, according to a calendar of upcoming deals.

The size of the sale was reduced from $528.245 million.

The bonds (/AA-/A+) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Lehman Brothers Inc. as the lead managers. The co-managers are Goldman, Sachs & Co.; Merrill Lynch; Ramirez & Co.; Wachovia Bank; Cain Brothers & Co.; Depfa First Albany; Jackson Securities; Morgan Stanley; Raymond James; Roosevelt & Cross; and Sterne, Agee, Leach & Co.

The bonds are due 2009 to 2028 with term bonds due 2033 and 2038.

Proceeds will be used to refund outstanding bonds, to refinance state facilities and to 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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