The Dormitory Authority of the State of New York approved $531 million in financings for higher education and health care, including $340 million in 23-year, fixed or variable-rate tax-exempt bonds for the Memorial Sloan-Kettering Cancer Center.
According to DASNY, proceeds are expected to refund the authority’s 2003 Series 1 bonds if the market improves by 50 basis points. Under current market conditions, a partial refunding of $87.8 million is anticipated, the agency said.
Goldman, Sachs & Co. is lead manager, Orrick, Herrington & Sutcliffe LLP is bond counsel and Winston & Strawn LLP is underwriter’s counsel.
