Dasny plans $320 million sale of revenue bonds for The New School

By Sheri Kasprzak

New York, Nov. 5 - The Dormitory Authority of the State of New York is slated to sell $320 million of series 2010 revenue bonds for The New School during the week of Nov. 15, according to a preliminary official statement.

The bonds (A3/A-/) will be sold through senior managers Barclays Capital Inc. and J.P. Morgan Securities LLC. The co-manager is M.R. Beal & Co.

The maturities have not been set.

Proceeds will be used to construct a new university building, including a dormitory, and renovate three floors of a leased building, as well as refund the school's series 1999 and 2001 bonds.

Based in Albany, N.Y., the authority provides funding for health care, educational, governmental and nonprofit entities. The New School, based in New York City, is a nonprofit higher education institution.

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