For Release: Immediate, February 28, 2001

Board Approves 2 University Bond Issues

At its meeting today in its Albany headquarters, the Board of the Dormitory Authority approved the following bond issues:

Yeshiva University. A sale of no more than $65 million in 30-year tax-exempt, fixed-rate bonds was approved. Yeshiva University will refinance approximately $26 million in 1994 Dormitory Authority bonds to secure a lower interest rate. In addition, the University will use $35 million in bond proceeds to buy, build and renovate various buildings near the mid-Manhattan campus to provide classrooms, office space and student housing. Yeshiva University began in 1886 as Yeshiva Eitz Chaim on New York City's Lower East Side, and achieved university status in 1945. Today, the University offers bachelor's, master's and doctoral degrees at four centers in Manhattan and the Bronx. Merrill Lynch & Co. will be the lead underwriter for the negotiated sale.

New York University. Two bond issues totaling $280 million in 40-year fixed-rate, tax-exempt bonds were approved. The University plans to use $110 million in proceeds to build a new research building and renovate buildings at the Medical School. The remaining $170 million will fund renovations and improvements to the Washington Square campus. One of the largest private universities in the country, NYU has 25,000 full-time students, and more than 25,000 part-time students. NYU has 14 schools, colleges and divisions at four major centers in Manhattan, with branch campuses in Westchester and Rockland counties and a research facility in Orange County. The University has been a client of the Authority for 33 years. Morgan Stanley & Co. Inc. will be the lead underwriter for the negotiated sale.

Board Chair Gail H. Gordon announced that the Board would meet at 9:30 a.m. Wednesday, March 28, at the Dormitory Authority's corporate headquarters at 515 Broadway, Albany.
For more information, contact Press Officer Claudia Hutton at (518) 257-3382 or CHutton@dasny.org.

Go to 2012 News Releases

Go to 2011 News Releases

Go to 2010 News Releases

Go to 2009 News Releases

Go to 2008 News Releases

Go to 2007 News Releases

Go to 2006 News Releases

Go to 2005 News Releases

Go to 2004 News Releases

Go to 2003 News Releases

Go to 2002 News Releases

Go to 2001 News Releases