Dasny preps $392 million offering of Columbia University revenue bonds

By Sheri Kasprzak

New York, April 5 – The Dormitory Authority of the State of New York is expected to price $392 million of series 2016 revenue bonds for Columbia University, according to a preliminary official statement.

The offering includes $50 million of series 2016A-1 green bonds, $130 million of series 2016A-2 bonds and $212 million of series 2016B bonds.

The bonds (Aaa/AAA/) will be sold on a negotiated basis with Goldman, Sachs & Co. and Morgan Stanley & Co. LLC as the senior managers. The co-managers are Barclays, BofA Merrill Lynch, Drexel Hamilton LLC, J.P. Morgan Securities LLC, Ramirez & Co. Inc., Rice Financial Products Co. and Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to finance capital projects for the university and to refund existing debt issued by Columbia.

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