Dasny to sell $100 million dormitory facilities lease revenue bonds

By Sheri Kasprzak

New York, Nov. 5 - The Dormitory Authority of the State of New York is expected to sell $100 million in series 2009A state university dormitory facilities lease revenue bonds on Tuesday, according to a preliminary official statement.

The bonds (Aa3/AA-/) will be sold on a negotiated basis with Siebert Brandford Shank & Co. LLC as the lead manager. The co-managers include Cabrera Capital Markets LLC, Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, J.P. Morgan Securities Inc., Merrill Lynch & Co., Piper Jaffray & Co. and Raymond James & Associates Inc.

The maturities have not been set.

Proceeds will be used to renovate and construct dormitory buildings at the state's universities and colleges.

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