Dasny coordinates $830 million sale of state personal income tax bonds

By Sheri Kasprzak

New York, March 5 - The Dormitory Authority of the State of New York is expected to come to market with $830 million of series 2014 general purpose state personal income tax bonds, according to a preliminary official statement.

The offering includes $800 million of series 2014A tax-exempt bonds and $30 million of series 2014B taxable bonds.

The bonds will be sold on a negotiated basis with Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Rice Financial Products Co. as the joint bookrunners. The co-managers are Blaylock Robert Van LLC; BofA Merrill Lynch; Fidelity Capital Markets; Goldman, Sachs & Co.; Jefferies & Co.; J.P. Morgan Securities LLC; Lebenthal & Co. LLC; Loop Capital Markets LLC; M&T Securities Inc.; Mesirow Financial Inc.; Oppenheimer & Co.; TD Securities (USA) LLC; RBC Capital Markets LLC; Roosevelt & Cross Inc.; U.S. Bancorp Investments Inc.; and Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to refund existing debt.

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