Dasny arranges $371.91 million sale of school districts revenue bonds

By Sheri Kasprzak

New York, Sept. 25 - The Dormitory Authority of the State of New York plans to price $371.91 million of series 2012 school districts revenue bond financing program revenue bonds, according to a preliminary official statement.

The deal includes $173.28 million of series 2012F bonds (/A+/A+), $79.53 million of series 2012G bonds (/A+/A+), $77.27 million of series 2012H bonds (Aa3//A+), $13,085,000 of series 2012I bonds (/AA/A+), $22,355,000 of series 2012J bonds (/AA-/A+) and $6.39 million of series 2012K bonds (/A+/A+).

The bonds will be sold on a negotiated basis with RBC Capital Markets LLC and Raymond James/Morgan Keegan as the senior managers. The co-managers are Jefferies & Co., Ramirez & Co. Inc., Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc., BB&T Capital Markets, Citigroup Global Markets Inc., Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, J.P. Morgan Securities LLC, Lebenthal & Co. Inc., M.R. Beal & Co. Inc., Mesirow Financial Inc., Rice Financial Products Co., Sterne, Agee, Leach & Co., The Williams Capital Group LP and Wells Fargo Bank, NA.

The maturities have not been set.

Proceeds will be used to finance loans to a number of New York State school districts for capital improvements and to refund the authority's series 2002C and 2002G revenue bonds.

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