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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

July 1, 2015, Contact: Press Office (518) 474-4015

DiNapoli Releases Bond Calendar for Third Quarter

Tentative Schedule Includes $1.65 Billion of New Debt Sales

New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned sale of obligations for the state, New York City, and major public authorities during the third quarter of 2015.

The proposed new issuances total approximately $1.65 billion, including approximately $354 million scheduled for this month, $492 million for August and $800 million for September. The anticipated new issuances in the third quarter compare to past planned new issuances of approximately $4.95 billion during the second quarter of 2015, and $3.02 billion during the third quarter of 2014.

The State Comptroller's office chairs the Securities Coordinating Committee, which coordinates the borrowing activities of the state, New York City and major public authorities. All borrowings are scheduled at the request of the issuer and done pursuant to their borrowing programs.

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

  • Dormitory Authority of the State of New York – bond sales of up to $103 million in tax-exempt fixed and variable rate bonds in July.
  • New York State Housing Finance Agency – bond sales of up to approximately $122 million in taxable and tax-exempt variable rate bonds in July and bond sales of up to $462 million in taxable and tax-exempt variable rate bonds, as well as tax-exempt fixed rate bonds, in August.
  • Metropolitan Transportation Authority – a bond sale of up to $50 million in tax-exempt variable rate bonds in September.
  • New York City Transitional Finance Authority – a bond sale of up to $750 million in taxable and/or tax-exempt, fixed and/or variable rate bonds in September.
  • New York State Environmental Facilities Corporation – a bond sale of up to approximately $82 million in tax-exempt fixed rate bonds in July and a bond sale of up to $30 million in taxable and/or tax-exempt fixed rate bonds in August.
  • State of New York Mortgage Agency – a bond sale of up to $47 million in tax-exempt, fixed rate bonds subject to the Alternative Minimum Tax in July.

Refundings or reofferings are currently being contemplated by: the Dormitory Authority of the State of New York, the Metropolitan Transportation Authority, the New York Convention Center Development Authority, the New York Power Authority, the New York State Environmental Facilities Corporation, the New York State Housing Finance Authority, the State of New York Mortgage Agency, the Triborough Bridge and Tunnel Authority, and the Utility Debt Securitization 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.

See the full forward calendar, or go to: www.osc.state.ny.us/pension/scccalendar.pdf.

 

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