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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

April 3, 2015 , Contact: Press Office (518) 474-4015


Comptroller DiNapoli Releases Bond Calendar for Second Quarter


Tentative Schedule Includes $4.95 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 second quarter of 2015.

The proposed new issuances total approximately $4.95 billion, including $2.06 billion scheduled for this month, $662.5 million scheduled for the month of May and $2.23 billion scheduled for June. The anticipated new issuances in the second quarter compare to past planned new issuances of approximately $2.44 billion during the first quarter of 2015, and $2.2 billion during the second 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 their borrowing programs.

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

  • Dormitory Authority of the State of New York – bond sales of up to $170 million in tax-exempt fixed rate bonds for the month of April, bond sales of up to $110 million in tax-exempt fixed rate bonds for the month of May and a bond sale of up to $1.4 billion of taxable and tax-exempt fixed rate bonds for the month of June.
  • Metropolitan Transportation Authority – a bond anticipation note sale of up to $500 million in tax-exempt fixed rate notes for the month of June.
  • New York City Housing Development Corporation – a bond sale of up to $95.4 million in taxable and/or tax-exempt fixed and/or variable rate bonds for the month of April.
  • New York City Transitional Finance Authority – a bond sale of up to $1.08 billion in taxable and tax-exempt fixed and variable rate bonds for the month of April.
  • New York State Environmental Facilities Corporation – a bond sale of up to $325 million in tax-exempt fixed rate bonds for the month of June.
  • New York State Housing Finance Agency – bond sales of up to $371.2 million in tax-exempt fixed and variable rate bonds for the month of April and bond sales of up to $252.5 million in taxable and tax-exempt variable rate bonds for the month of May.
  • Port Authority of New York and New Jersey – a bond sale of up to $350 million in tax-exempt fixed rate bonds for the month of April.
  • Triborough Bridge and Tunnel Authority – a bond sale of up to $300 million in tax-exempt fixed rate bonds for the month of May.

Refundings or reofferings are currently being contemplated by: the Dormitory Authority of the State of New York, the Long Island Power Authority, the New York City Housing Development Corporation, the New York City Municipal Water Finance Authority, the New York State Energy Research and Development Authority, the New York State Environmental Facilities Corporation and the Port Authority of New York and 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.

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