Dasny plans $500 million offering of Icahn School of Medicine bonds

By Sheri Kasprzak

New York, Aug. 3 – The Dormitory Authority of the State of New York is set to price $500 million of series 2015A revenue bonds for the Icahn School of Medicine at Mount Sinai, according to a preliminary official statement.

The bonds (A3/A-/) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Goldman, Sachs & Co. as the lead managers. The co-managers are Academy Securities Inc., BofA Merrill Lynch, Fidelity Capital Markets, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Rice Financial Products Co., Stifel, Nicolaus & Co. and TD Securities (USA) LLC.

The maturities have not been set.

Proceeds will be used to finance the renovation and equipment of the Annenberg Building and the Icahn Medical Institute, as well as to refund the authority’s series 2007 and 2009 revenue bonds.

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