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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

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

DiNapoli Releases Bond Calendar for Fourth Quarter

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 2015.

The proposed new issuances total approximately $5.68 billion, including $2.97 billion scheduled for this month, $1.41 billion scheduled for November and $1.3 billion for December. The anticipated fourth quarter issuances compare to past planned new issuances of approximately $1.65 billion during the third quarter of 2015 and $6.71 billion during the fourth quarter of 2014.

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:

  • Dormitory Authority of the State of New York – a bond sale of $1 billion in tax-exempt fixed rate bonds for the month of October and a bond sale of $200 million in tax-exempt fixed rate bonds for November.
  • Empire State Development – a bond sale of $1.3 billion in tax-exempt and taxable fixed rate bonds for December.
  • Long Island Power Authority – a bond sale of $100 million in tax-exempt variable rate bonds for October.
  • Metropolitan Transportation Authority – a note sale of $700 million in tax-exempt fixed rate notes for November.
  • New York City Municipal Water Finance Authority – a bond sale of $250 million in tax-exempt variable rate bonds for October and a bond sale of $350 million in tax-exempt fixed rate bonds for November.
  • New York City Transitional Finance Authority – a bond sale of $400 million in tax-exempt and/or taxable, fixed and/or variable rate bonds for October.
  • New York City Housing Development Corporation – a bond sale of $130 million in tax-exempt fixed rate bonds for October.
  • New York State Energy Research and Development Authority – a bond sale of $50 million in taxable fixed rate bonds for October.
  • New York State Housing Finance Authority – bond sales totaling $204 million in tax-exempt and taxable variable rate as well as tax-exempt fixed rate bonds for October and bond sales totaling $163 million in tax-exempt and taxable variable rate bonds for November.
  • Port Authority of New York & New Jersey – a bond sale of $700 million in taxable fixed rate bonds for October.
  • State of New York Mortgage Agency – a bond sale of $140 million in tax-exempt, taxable fixed rate bonds for October.

Refundings or reofferings are currently being contemplated by: the Long Island Power Authority, the Metropolitan Transportation Authority, the Nassau County Interim Finance Authority, the New York City Transitional Finance Authority, the New York Power Authority, the Port Authority of New York & New Jersey, the Triborough Bridge & 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.

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

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