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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

January 7, 2014, Contact: Press Office (518) 474-4015

DiNapoli Releases Bond Calendar for First Quarter

Tentative Schedule Includes $3.93 Billion of New Debt Sales

State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned sale of obligations for the state, New York City and their major public authorities during the first quarter of 2014.

The proposed new issuances total approximately $3.93 billion, including approximately $2.57 billion scheduled for this month and $557 million and approximately $805 million scheduled for February and March, respectively. The first quarter of anticipated new issuances compares to past planned new issuances of approximately $4.9 billion during the fourth quarter of 2013 and $4.1 billion during the first quarter of 2013.

The Comptroller’s office chairs the Securities Coordinating Committee which was created to coordinate the borrowing activities of the state, New York City and their respective public authorities. All borrowings are scheduled at the request of the issuer and done pursuant to its borrowing programs.

The first quarter new money borrowings are expected to include the following:

  • Dormitory Authority of the State of New York –a bond sale of approximately $18.9 million of fixed rate tax-exempt bonds for January; a bond sale of approximately $57 million of fixed rate taxable and tax-exempt bonds for February; and a bond sale of approximately $5.6 million of fixed rate tax-exempt bonds for March.
  • Metropolitan Transportation Authority –a bond sale of up to $500 million in fixed rate tax-exempt bonds for February.
  • New York City –a bond sale of up to $800 million of fixed rate tax-exempt bonds for March.
  • New York City Transitional Finance Authority –bond sales of up to $800 million in fixed rate tax-exempt bonds and up to $50 million in fixed rate taxable bonds for January.
  • New York City Municipal Water Finance Authority –a bond sale of up to $350 million in fixed rate tax-exempt bonds for January.
  • Port Authority of New York and New Jersey –a bond sale of up to $1 billion in fixed rate taxable bonds for January.
  • Triborough Bridge and Tunnel Authority –a bond anticipation note sale of up to $100 million in fixed rate tax-exempt notes and a bond sale of up to $250 million in fixed rate tax-exempt bonds for January.

Refundings or reofferings are currently being contemplated by: the Dormitory Authority of the State of New York and New York City Municipal Water Finance Authority.

The schedule will be modified and updated in response to changes in program needs and market conditions. It is also contingent upon execution of all project approvals required by law. The schedule is released by the committee to assist participants in the municipal bond market. A new schedule is released every quarter and updated as necessary. The collection and release of this information by the Office of the State Comptroller is not intended as an endorsement of the proposed issuances it contains, many of which will be subject to approval by the Office of the State Comptroller.

The full forward calendar can be obtained at: www.osc.state.ny.us/pension/scccalendar.pdf.

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