The Dormitory Authority of the State of New York last week at its monthly board meeting gave final approval to more than $1 billion of bonds for a number of projects.
The largest approval was for up to $500 million of bonds on behalf of Columbia University. It plans to use about $300 million to finance various projects on its Morningside Campus, medical center and its Manhattanville expansion. The remaining proceeds will be used to refund outstanding bonds. Morgan Stanley will lead manage the deal, and Nixon Peabody LLP is bond counsel.