“DASNY was able to take advantage of Governor Cuomo’s comprehensive actions to rein in State spending, which led to the State’s historically high credit rating. We sold these bonds on a competitive basis. The bids were aggressive with favorable rates resulting in a lower cost debt and a positive outcome for New York State,” said DASNY President, Paul T. Williams, Jr. 
This competitive sale was conducted in four tranches. This is the first time DASNY used this innovative approach to generate greater competition for this large sale. The result was aggressive bids for each group of bonds and very favorable pricing for the State. 

The winning bids were as follows:
 
    • $366,705,000 of Series 2014C (Group A) Tax-Exempt Bonds awarded to J.P. Morgan; 
    • $322,640,000 of Series 2014C (Group B) Tax-Exempt Bonds awarded to BofA; 
    • $386,605,000 of Series 2014C (Group C) Tax-Exempt Bonds awarded to J.P. Morgan; and 
    • $81,385,000 of Series 2014D (Group D) Federally Taxable Bonds awarded to
        Goldman, Sachs & Co. 

The proceeds from this bond sale, which closed on July 8, will be used to finance, or provide reimbursement for important aspects of Governor Cuomo’s NY Works program and projects contained in the State’s Capital Plan. Bond proceeds will be used for capital projects such as those undertaken by the State University of New York and the City University of New York for educational facilities; projects undertaken by the Department of Environmental Conservation and the Office of Parks, Recreation and Historic Preservation, under the New York Works Program, and funding for Expanding our Children’s Education and Learning (“EXCEL) capital program.