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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

October 1, 2013, Contact: Press Office (518) 474-4015

DiNapoli Releases Bond Calendar For Fourth Quarter

Tentative Schedule Includes $4.91 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 their major public authorities during the fourth quarter of 2013.

The proposed new issuances total approximately $4.91 billion, including approximately $3.08 billion scheduled for this month and approximately $398 million and $1.43 billion scheduled for November and December, respectively. The fourth quarter of anticipated new issuances compares to past planned new issuances of approximately $3.21 billion during the third quarter of 2013 and $6.1 billion during the fourth quarter of 2012.

The State Comptroller’s office chairs the Securities Coordinating Committee which was created by Gubernatorial Executive Order primarily 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 fourth quarter new money borrowings are expected to include the following:

  • Battery Park City Authority – a bond sale of up to $6.8 million in fixed rate tax-exempt bonds for the month of October;
  • Dormitory Authority of the State of New York – bond sales of approximately $1.08 billion for the month of October, of which approximately $1.02 billion will be fixed rate tax-exempt bonds, while the remaining $64 million will be taxable and/or tax-exempt fixed rate bonds; a bond sale of up to $22.5 million in variable rate tax-exempt bonds for the month of November; and a bond sale of up to $425 million in fixed rate taxable bonds for the month of December;
  • Empire State Development – a bond sale of up to $1 billion of fixed rate tax-exempt bonds for the month of December;
  • Housing Finance Authority – bond sales of up to $294.6 million for the month of October, of which $68.5 million will be variable rate tax-exempt bonds and the remaining $226.1 million will be in fixed rate tax-exempt bonds;
  • Metropolitan Transportation Authority – a bond sale of up to $500 million in fixed rate tax-exempt bonds for the month of October;
  • New York City – a bond sale of up to $400 million of variable rate tax-exempt bonds for the month of October;
  • New York City Transitional Finance Authority – a bond sale of up to $800 million in fixed rate tax-exempt bonds for the month of October; and
  • New York City Municipal Water Finance Authority – a bond sale of up to $375 million in fixed rate tax-exempt bonds for the month of November.

Refundings or reofferings are currently being contemplated by: the Battery Park City Authority, Dormitory Authority of the State of New York, City of New York, Metropolitan Transportation Authority, and the Triborough Bridge & Tunnel 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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