DASNY - Dormitory Authority of the State of New York

06/16/2026 | Press release | Distributed by Public on 06/16/2026 09:31

DASNY PRICES $1.18 BILLION IN SCHOOL DISTRICT REVENUE BONDS

Bond Proceeds Will Support Capital Projects for 85 School Districts Across New York State

ALBANY, NY - The Dormitory Authority of the State of New York (DASNY) priced $1.18 billion in New York State School District Revenue Bonds to finance capital projects for public school districts across New York State and to refinance Bond Anticipation Notes (BANs) previously issued to support these improvements.

The bonds were sold via negotiated sale in two order periods, a retail order period on May 12, 2026, followed by institutional pricing on May 13, 2026. The tax-exempt bonds were sold through three series totaling $1,181,745,000, consisting of $1,148,975,000 Series 2026A Bonds, $18,955,000 Series 2026B Bonds and $13,815,000 Series 2026C Bonds.

The transaction achieved very strong investor demand across all maturities. Yields ranged from 2.64% in 2027 to 4.65% in 2055. The transaction produced a true interest cost (TIC) of 3.83%.

Bond proceeds will reimburse or finance school district capital projects throughout New York State, including:

  • Renovations and modernization of educational facilities

  • Safety, security and accessibility improvements

  • Energy efficiency and sustainability upgrades

  • Technology and infrastructure enhancements

  • Other voter-approved capital improvements

The financing will support projects in 85 school districts spanning communities across New York State, from the Capital Region and Hudson Valley to Central New York, the Southern Tier, Western New York, and the North Country.

The bonds are secured by the participating school districts' general obligation pledges and by a statutory intercept of State aid payments, which allows DASNY to receive funds directly from the State Comptroller if necessary.

Since launching in 2004, DASNY's School Districts Revenue Bond Financing Program has provided school districts with cost-effective access to capital markets to support critical educational infrastructure investments. Through the program, DASNY has delivered approximately $9.6 billion in capital to school districts across New York State through approximately 92 separate series. The program provides school districts with cost-effective access to the capital markets to finance voter-approved infrastructure improvements that enhance educational environments for students and communities statewide. An additional $1.2 billion has been issued through 22 refunding series under the program.

The Series 2026A Bonds closed on June 16, 2026, the Series 2026B Bonds closed on June 11, 2026, and the Series 2026C Bonds are expected to close on July 2, 2026.

Raymond James, Roosevelt & Cross and RBC Capital Markets served as underwriters. Barclay Damon LLP and BurgherGray LLP served as Co-Bond Counsel.

DASNY - Dormitory Authority of the State of New York published this content on June 16, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 16, 2026 at 15:31 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]