RBC Capital Markets

Municipal Markets | Transaction Announcement

RBC Acts as Joint-Bookrunning Senior Manager on Dormitory Authority of the State of New York’s $1,523,100,000 State Sales Tax Revenue Bonds, Series 2015A

Transaction Overview
On July 22, 2015 RBC Capital Markets served as joint-bookrunning senior manager for the Dormitory Authority of the State of New York’s (“DASNY”) Series 2015A State Sales Tax Revenue Bonds. The proceeds of the Bonds will be used to refund certain outstanding State-supported debt previously issued by the New York State Thruway Authority under the Second General Highway and Bridge Trust Fund Bond Resolution. The Series 2015A Bonds are rated AAA by S&P and AA+ by Fitch.

The Bonds were offered with maturities ranging from 2016 to 2027. The successful refunding resulted in significant present value savings to benefit New York State’s Financial Plan.

Please contact any of the individuals below for further information regarding this significant transaction.

RBC Capital Markets Transaction Team

John Puig
C&IB - Municipal Finance
212.618.5588
john.puig@rbccm.com

Brad Hopper
C&IB - Municipal Finance
518.432.5074
brad.hopper@rbccm.com

Ken Friedrich
FIC – Municipal Markets
212.618.5610
ken.friedrich@rbccm.com

Jaime Durando
FIC - Municipal Markets
212.618.5628
jaime.durando@rbccm.com

Dan Heimowitz
C&IB - Municipal Finance
212.618.2573
dan.heimowitz@rbccm.com.com

Natasha Holiday
C&IB - Municipal Finance
212.618.5637
natasha.holiday@rbccm.com

Jake Sigmund
Corporate Banking
212.428.7925
jake.sigmund@rbccm.com

Laurent Mastey
Corporate Banking
212.428.6534
laurent.mastey@rbccm.com

rbccm.com/municipalfinance

Preliminary, subject to change. This announcement is not an offer, solicitation, commitment or recommendation to buy or sell the bonds and does not purport to be a complete statement of all material facts relating to the bonds. The offering is made only by means of the Official Statement, copies of which may be obtained from RBC Capital Markets. This communication is not, and under no circumstances should be construed as, a solicitation to act as securities broker or dealer in any jurisdiction by any person or company that is not legally permitted to carry on the business of a securities broker or dealer in that jurisdiction.

RBC Capital Markets is not acting as a fiduciary or as a municipal, financial, commodity or investment adviser. The information provided is not intended to be and should not be construed as "advice" within the meaning of Section 15B of the Securities Exchange Act of 1934.

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