April 04, 2011
DiNapoli Releases Bond Calendar for Second Quarter
Tentative Schedule Includes $4.2 Billion of Debt Sales During the 2nd Quarter of 2011
New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned public sale of obligations for the state, its major public authorities, the City of New York, and the city’s major public authorities during the second quarter of 2011.
The proposed new issuances total approximately $4.2 billion, including approximately $211 million scheduled for this month, approximately $2.9 billion scheduled for May and approximately $1.1 billion scheduled for June. The second quarter of anticipated new issuances compares to past planned new issuances of approximately $5.1 billion during the first quarter of calendar year 2011, and approximately $6.2 billion during the second quarter of calendar year 2010.
The Office of the State Comptroller chairs the Securities Coordinating Committee which was created by Gubernatorial Executive Order primarily to coordinate the borrowing activities of the state, the city and their respective public authorities. All borrowings are scheduled at the request of the issuer and done pursuant to their borrowing programs.
The second quarter new money borrowings are expected to include the following:
Refundings or conversions are currently being contemplated by: the Dormitory Authority of the State of New York, the Environmental Facilities Corporation, the Metropolitan Transportation Authority, the New York City Housing Development Corporation and the New York City Transitional 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.