Dasny to bring $1.24 billion in state PITs on Tuesday

By Sheri Kasprzak

New York, Aug. 13 - The Dormitory Authority of the State of New York plans to bring its previously announced $1.24 billion in series 2009 state personal income tax bonds to market on Tuesday, said a sales calendar.

The deal includes $395 million in series 2009D bonds, $135 million in series 2009E federally taxable bonds and $710 million in series 2009F federally taxable Build America Bonds.

M.R. Beal & Co. Inc. and Morgan Stanley & Co. Inc. are the lead managers for the 2009D and 2009E bonds. Merrill Lynch & Co. Inc. is the senior manager for the 2009F bonds. Loop Capital Markets LLC, Merrill Lynch & Co. Inc., Siebert Brandford Shank & Co. LLC, Citigroup Global Markets Inc., Fidelity Capital Markets Inc., Grigsby & Associates Inc., Jackson Securities Inc., Raymond James & Associates Inc., Rice Financial Products Inc., Sterne, Agee & Leach Inc. and Wachovia Bank, NA are co-managers for the 2009D and 2009E bonds.

Goldman, Sachs & Co.; Loop; Morgan Stanley; M.R. Beal; Citigroup; Jefferies & Co.; J.P. Morgan Securities Inc.; and RBC Capital Markets Inc. are the co-managers for the 2009F.

The 2009D bonds are due 2010 to 2020 and the 2009E bonds are due 2010 to 2019. The maturity dates were unavailable for the 2009F bonds.

Proceeds will be used to fund capital projects at the State University of New York and the City University of New York.

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