Dasny plans $85 million bond sale for Hospital for Special Surgery

By Sheri Kasprzak

New York, Oct. 26 - The Dormitory Authority of the State of New York is expected to price $85 million in series 2009 FHA-insured mortgage hospital revenue bonds for the Hospital for Special Surgery, according to a preliminary official statement.

The bonds (Aa2/AAA/) will be sold on a negotiated basis with Merrill Lynch & Co. Inc. as the senior manager. The co-managers are Cabrera Capital Markets LLC; Goldman, Sachs & Co.; and J.P. Morgan Securities Inc.

The maturities have not yet been set.

Proceeds will be used to expand and renovate the hospital's East Wing, as well as to fund a parking garage and a new mechanical rooftop.

The Hospital for Special Surgery is located in New York City.

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