Dasny to sell $51.29 million bonds for Pratt Institute on Wednesday

By Sheri Kasprzak

New York, July 23 - The Dormitory Authority of the State of New York is set to price $51.29 million in series 2009C insured revenue bonds for the Pratt Institute, according to a preliminary official statement. The sale is expected for Wednesday.

The bonds (Aa2) will be sold on a negotiated basis with George K. Baum & Co. as the lead manager. The co-managers are Ramirez & Co. Inc. and Roosevelt & Cross Inc.

The maturities have not yet been set.

Proceeds will be loaned to the Pratt Institute to construct, acquire and equip an educational condominium complex in Brooklyn.

Pratt Institute is an arts school based in New York City.

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