Dasny organizes $1 billion offering of state sales tax revenue bonds

By Sheri Kasprzak

New York, Oct. 3 - The Dormitory Authority of the State of New York plans to price $1 billion of series 2013A state sales tax revenue bonds, according to a preliminary official statement.

The bonds (/AA/AAA) will be sold on a negotiated basis with J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Loop Capital Markets LLC and RBC Capital Markets LLC as the senior managers.

The co-managers are Barclays, BofA Merrill Lynch, Goldman Sachs & Co., Jefferies & Co., M.R. Beal & Co., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to finance capital projects at the State University of New York, fund environmental remediation projects and fund library projects.

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