The Northeast region will take center stage in this week's primary market when a trio of sizable deals - led by a $467.2 million revenue sale and auction-rate conversion from the Dormitory Authority of the State of New York - is expected to be priced as part of an estimated $4.90 billion in total new-issue volume, according to Thomson Reuters.

Supply this week is expected to more than double last week's revised $2.05 billion when the municipal market celebrated the Labor Day holiday, according to Thomson figures. This week, however, there will be a somber mood on Wall Street and in the municipal market on Thursday, with only one sizable deal scheduled for the seventh anniversary of the Sept. 11, 2001, terrorist attacks in New York City and Washington.

DASNY is scheduled to kick off its two-pronged deal with a retail order period, followed by an official pricing by lead manager JPMorgan for institutions tomorrow. The larger portion of the deal consists of $390.5 million of Series 2008F new-money bonds maturing from 2009 to 2030, while there is also a $72.5 million Series 2003C-2, which is converting outstanding ARS debt to fixed rate, maturing from 2011 to 2026.

The issue will carry ratings of AA-minus from Standard & Poor's and A-plus from Fitch Ratings.

Two other deals in the Northeast will offer investors education and transportation-related supply when a pair of popular issuers in Massachusetts and Maryland bring deals to market.

The Massachusetts Educational Financing Authority on Thursday is slated to issue $400 million of Series 2008 education loan revenue bonds in a Morgan Stanley-led deal. The bonds are subject to the alternative minimum tax and will be insured by Assured Guaranty Corp. The structure of the deal was unavailable by press time.

The Maryland Transportation Authority, meanwhile, will sell $425 million of grant and revenue anticipation bonds on Wednesday in the competitive market with a structure that includes serial bonds maturing from 2009 to 2020. The deal is rated Aa2 by Moody's Investors Service, AAA by Standard & Poor's, and AA by Fitch.

The bonds are limited obligations of the authority, payable solely from certain federal transportation aid available to the state of Maryland, and other monies included in a trust estate, including certain state tax revenues. Proceeds will finance the design, construction, and equipping of an 18-mile long, six-lane, access-controlled, congestion-managed toll highway that will link Interstate 270 and Interstate 95/US 1 corridors in Montgomery County and Prince George's County in the Maryland suburbs of Washington.

Switching gears to the Midwest, Ohio will sell $380 million of revenue refunding bonds on behalf of the Cleveland Clinic Health System Obligated Group. It is the first portion of $1.1 billion of combined debt being issued this month and next to refund outstanding auction-rate and variable-rate bonds and raise new cash for hospital expansion projects.

The proceeds of the issue will be used to retire a combination of outstanding ARS debt, variable-rate debt, and fixed-rate debt from 1997, 2001, 2004, and 2006.

JPMorgan is expected to price the $380 million Series 2008A offering tomorrow with a structure that consists of serial bonds maturing from 2012 to 2028, a term bond in 2033, and bullet maturities in 2038 and 2043. The hospital revenue bonds have ratings of Aa3 from Moody's and AA-minus from Standard & Poor's.

The Cleveland Clinic began experiencing failed auctions on its debt starting in February amid a general credit crunch stemming largely from bad mortgage loans.

A $336 million Nebraska Public Power District general revenue bond offering is slated to be priced by Goldman, Sachs & Co. tomorrow after a retail order period today. The deal is rated A1 by Moody's, A by Standard & Poor's, and A-plus by Fitch. The structure was not available at press time.

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