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

 FOR RELEASE:

Immediately
October 4, 2007


DiNapoli Announces Fourth Quarter
2007 Bond Sale Schedule

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 fourth quarter of calendar year 2007.

The total amount of new bonding proposed is up to $6.8 billion, including approximately $3.7 billion scheduled for October, approximately $1.6 billion scheduled for November, and approximately $1.5 billion scheduled for December. The fourth quarter anticipated issuance compares to past planned issuances of $4.2 billion during the third quarter of calendar year 2007, and $9 billion during the fourth quarter of calendar year 2006.

The Office of the State Comptroller chairs the Securities Coordinating Committee which was created by Executive Order primarily to coordinate the borrowing activities of its members. All borrowings are scheduled at the request of the individual public authorities and New York City and done pursuant to their borrowing programs.

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

  • City of New York – bond sales of up to $960.9 million in tax-exempt and taxable as well as fixed rate and/or auction rate bonds in October.
  • Dormitory Authority of the State of New York – bond sales totaling up to $70 million in tax-exempt fixed rate bonds in October; bond sales totaling up to $1,053 million in tax-exempt fixed rate bonds in November; and bond sales totaling up to $310 million in tax-exempt fixed rate bonds in December.
  • Empire State Development Corporation – a bond sale of up to $370 million in tax-exempt and/or taxable fixed rate and/or variable rate bonds in October; and a bond sale of up to $565 million in tax-exempt and/or taxable fixed rate and/or variable rate bonds in November.
  • Environmental Facilities Corporation – a bond sale of up to $170 million in tax-exempt and taxable fixed rate bonds in December.
  • Metropolitan Transportation Authority – a bond sale of up to $430 million in tax-exempt bonds (type yet to be determined) in October and a bond sale of up to $200 million in tax-exempt fixed rate bonds in December.
  • New York City Municipal Water Finance Authority – bond sales totaling up to $800 million in tax-exempt fixed rate and variable rate bonds in October.
  • New York City Transitional Finance Authority – a bond sale of up to $700 million in tax-exempt fixed rate bonds in December.
  • New York State Housing Finance Agency – bond sales totaling up to $70.9 million in tax-exempt fixed rate and variable rate bonds in October; and bond sales totaling up to $35.1 million in tax-exempt fixed rate and variable rate bonds in November.
  • New York Power Authority – a bond sale of up to $259 million in tax-exempt and/or taxable fixed rate bonds in October.
  • Port Authority of New York and New Jersey – a bond sale of up to $126 million in tax-exempt auction rate bonds in October; and a bond sale of up to $150 million in tax-exempt fixed rate bonds in December.
  • Thruway Authority – a bond sale of up to $570.5 million in tax-exempt fixed rate bonds in October.

Refundings are currently being contemplated during the fourth quarter by: the Dormitory Authority of the State of New York, the Port Authority of New York and New Jersey, the New York Power Authority, and the Thruway Authority.

The schedule will be modified and updated in response to changes in program needs and market conditions and is also contingent upon execution of all project approvals required by law. The schedule is released by the committee to assist the investment community and 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.

Click here for the full forward calendar.

###

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