Dasny prepares $132.28 million offering of bonds for NYU Hospitals Center for week of Jan. 3

By Sheri Kasprzak

New York, Dec. 31 - The Dormitory Authority of the State of New York is expected to price $132.28 million of series 2011A revenue bonds for the NYU Hospitals Center during the week of Jan. 3, according to a preliminary official statement.

The bonds (Baa1/BBB+/BBB+) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. and Bank of America Merrill Lynch as the senior managers. The co-managers are Citigroup Global Markets Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC; and TD Securities Inc.

The maturities have not been set.

Proceeds will be used to renovate and construct improvements to the hospital center's existing emergency department, as well as to renovate existing space to create a new musculoskeletal department.

The Albany, N.Y.-based authority provides funding for health care, educational, nonprofit and other organizations statewide.

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