Dasny plans to sell $341.44 million in school districts revenue bonds

By Sheri Kasprzak

New York, May 13 - The Dormitory Authority of the State of New York is set to price $341.44 million in series 2010 school districts revenue bond financing program revenue bonds, according to a preliminary official statement.

The offering includes $260.075 million in series 2010A bonds (A1/A+/A+), $54.19 million in series 2010B bonds (A2/A+/A+), $22.705 million in series 2010C bonds (A1/A+/A+) and $4.47 million in series 2010D bonds (A3/A+/A+).

The bonds will be sold on a negotiated basis with Roosevelt & Cross Inc., Jefferies & Co. and RBC Capital Markets Corp. as the senior managers. The co-managers are Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Duncan-Williams Inc.; Fidelity Capital Markets Inc.; Janney Montgomery Scott LLC; J.P. Morgan Securities Inc.; Morgan Keegan & Co. Inc.; Morgan Stanley & Co. Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; Stifel, Nicolaus & Co. Inc.; and Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to finance school district capital costs and equipment purchase costs, as well as to refinance certain school district bond anticipation notes.

The Albany-based authority provides financing for a variety of qualified entities throughout the state.

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