Dasny to sell $634.43 million state personal income tax revenue bonds

By Sheri Kasprzak

New York, Feb. 25 - The Dormitory Authority of the State of New York is expected to sell $634.43 million in series 2010 state personal income tax revenue bonds, according to a preliminary official statement.

The offering includes $373.955 million in series 2010A tax-exempt bonds, $46.7 million in series 2010B federally taxable bonds and $213.775 million in series 2010C Build America Bonds.

The bonds (/AAA/AA-) will be sold on a negotiated basis with RBC Capital Markets Corp. and Loop Capital Markets LLC as the senior managers.

The co-managers are Barclays Capital Markets Inc., Bank of America Merrill Lynch, Cabrera Capital Markets LLC, Citigroup Global Markets Inc., Fidelity Capital Markets Services Inc., Goldman Sachs & Co., Janney Montgomery Scott LLC, J.P. Morgan Securities Inc., Lebenthal & Co. LLC, Morgan Keegan & Co. Inc., MR. Beal & Co. Inc., Prager, Sealy & Co. LLC, Raymond James & Associates Inc., Rice Financial Products Co., Roosevelt & Cross Inc., Sterne, Agee & Leach Inc., Stifel, Nicolaus & Co. Inc., Stone & Youngberg and Wachovia Bank, NA.

The maturities have not been set.

Proceeds will be used to finance capital grants under the Heal NY Grant Program and various environmental and infrastructure projects throughout the state.

Dasny is based in Albany, N.Y.

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