April 2, 2012
DiNapoli Releases Bond Calendar for Second Quarter
Tentative Schedule Includes $3.8 Billion of Debt Sales in Second Quarter of 2012
New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned public sale of obligations for the state, New York City, and their major public authorities during the second quarter of 2012.
The proposed new issuances total $3.8 billion, including $1.9 billion scheduled for this month, $623 million scheduled for May, and $1.3 billion scheduled for June. The second quarter of anticipated new issuances compares to past planned new issuances of $3.4 billion during the first quarter of 2012, and $4.2 billion during the second quarter of 2011.
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 second quarter new money borrowings are expected to include the following:
Refundings or reofferings are currently being contemplated by the Dormitory Authority of the State of New York, Metropolitan Transportation Authority, New York City, New York Local Government Assistance Corporation, New York State Environmental Facilities Corporation, and the Port Authority of New York & New Jersey.
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.