Press Releases
CONTACT:
Press Office
(518) 474-4015

 FOR RELEASE:

Immediately
July 2, 2010

DiNapoli Releases Bond Calendar For Third Quarter

Tentative Schedule Includes $4.9 Billion of Debt Sales During the 3rd Quarter of 2010

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 third quarter of 2010.

The proposed new issuances total approximately $4.9 billion, including approximately $444 million scheduled for this month, approximately $1.6 billion scheduled for August, and approximately $2.9 billion scheduled for September. The third quarter of anticipated new issuances compares to past planned new issuances of approximately $6.2 billion during the second quarter of calendar year 2010, and approximately $5.9 billion during the third quarter of calendar year 2009.

The Office of the State Comptroller chairs the Securities Coordinating Committee which was created by 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 third quarter new money borrowings are expected to include the following:

  • Dormitory Authority of the State of New York – bond sales totaling up to $144 million in tax-exempt fixed rate bonds in July, bond sales totaling up to $226 million in tax-exempt and taxable fixed rate bonds (including Qualified School Construction Bonds) in August, and bond sales of up to $1.38 billion in tax-exempt and taxable fixed rate bonds (including Build America Bonds or “BABs”) in September.
  • New York City – a bond sale of up to $750 million in tax-exempt and taxable fixed rate bonds (including BABs) in September.
  • New York City Municipal Water Finance Authority – a bond sale of up to $500 million in tax-exempt and taxable fixed rate bonds (including BABs) in September.
  • New York City Transitional Finance Authority – a bond sale of up to $750 million in tax-exempt and taxable fixed rate bonds (including BABs) in August.
  • New York State Housing Finance Agency – bond sales of up to $239 million in tax-exempt variable rate bonds in September.
  • New York State Thruway Authority – a bond sale of up to $450 million in tax-exempt and taxable fixed rate bonds (including BABs) in August.
  • Port Authority of New York & New Jersey - a bond sale of up to $300 million in tax-exempt fixed rate bonds in July.
  • State of New York Mortgage Agency – a bond sale of up to $200 million in tax-exempt fixed rate bonds in August.

Refundings or conversions are currently being contemplated by: the Dormitory Authority of the State of New York, Empire State Development Corporation, New York City, the Port Authority of New York & New Jersey and the New York State Thruway 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.

###

Albany Phone: (518) 474-4015 Fax: (518) 473-8940
NYC Phone: (212) 681-4840 Fax: (212) 681-7677
Internet: www.osc.state.ny.us
E-Mail: press@osc.state.ny.us