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Saber Partners, LLC has been selected by the State of New York’s Dormitory Authority, the third largest issuer of municipal bonds in the United States, to serve as financial advisor. Saber signed a 2-year contract with DASNY in November 2007 following a competitive selection process. The contract has the option of being extended by DASNY for two additional years. This is the first time DASNY has employed a financial advisor.
Saber Partners will review a broad range of the Authority’s financial interaction with the capital markets and intermediaries and recommend approaches to improving the DASNY’s competitiveness in the marketplace.
Among the members of the Saber Team that will advise DASNY include:
- Joseph Fichera, an investment banker formerly managing director, principal, Bear Stearns and Smith Barney
- Brian Maher, former Assistant Treasurer of ExxonMobil Corporation
- Michael Noel, former Chief Financial Officer of Southern California Edison Company and Edison International
- Andrew Kalotay, a member of Fixed Income Analysts Hall of Fame and former director of Bond Portfolio Analysis at Salomon Brothers
Joseph Fichera, CEO of Saber Partners said “We believe that the challenges facing the market today need advisors who can defy current conventional thinking to create strategic value. The Saber team has demonstrated consistent innovation and achievement in the face of these challenges in over 25 years of experience by each of its members.”
About The Dormitory Authority of the
State of New York (DASNY)
The Dormitory Authority, founded in 1944, is the largest higher education, health care and public-purpose bonding and construction authority in the nation. During the past five fiscal years the Authority has issued more than $23.6 billion dollars in capital for its clients an d has expended more than $4.3 billion on construction projects that it manages. The Authority has a current construction pipeline of nearly 700 projects valued at $5.8 billion. In addition to the $4.3 billion in construction the Authority has put in place over the past five years, the Authority’s financings during that same period have funded more than $7 billion in new projects that have been managed by its clients. DASNY has an outstanding bond portfolio of more than $34.2 billion.
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