Dasny arranges $131.66 million Cornell University sale of revenue bonds

By Sheri Kasprzak

New York, April 11 – The Dormitory Authority of the State of New York plans to price $131,655,000 of series 2016A revenue bonds for Cornell University, according to a preliminary official statement.

The bonds (Aa1/AA/) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager. The co-managers are BNY Mellon Capital Markets LLC, Citigroup Global Markets Inc., Drexel Hamilton LLC, Morgan Stanley & Co. LLC and Ramirez & Co. Inc.

The bonds are due 2017 to 2035.

Proceeds will be used to refund the university’s series 2006A revenue bonds.

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