Strong demand from retail investors should allow the Dormitory Authority of the State of New York to accelerate its institutional order period a day, even though bid lists continue to surface in the secondary market.

By Wednesday morning, retail investors had placed $330 million in orders for the $443.1 million DASNY facilities revenue bonds. Priced by Bank of America Merrill Lynch, the bonds are rated Aa3 by Moody's Investors Service and A-plus by Standard & Poor's and Fitch Ratings. Institutional pricing was scheduled for Thursday, but is expected to be moved to Wednesday afternoon.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.