DASNY staff will work with the client to enable staff to provide necessary information to the DASNY Board. The DASNY Board will review the information provided by staff about the client and will adopt the legal documents or resolutions necessary to effectuate the financing. This may occur at one or two Board meetings. Bond documents, disclosure documents and tax diligence must be completed before the preliminary official statement is made available to investors. Bond pricing and the bond closing may then take place. For borrowers who have not worked with DASNY previously, the entire process may be completed in approximately 120 to 180 days.
DASNY has acted as a conduit issuer for financings as small as $5 million.
The DASNY Board meets once a month with the exception of August. Special Board meetings may be held, if necessary.
DASNY undertakes public offerings on behalf of borrowers rated in the investment grade category or higher. DASNY may also undertake private placements to qualified institutional buyers on behalf of borrowers which are unrated or are rated below investment grade.