October 2, 2012
DiNapoli Releases Bond Calendar For Fourth Quarter
Tentative Schedule Includes $6.1 Billion of New Debt Sales
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 fourth quarter of 2012.
The proposed new issuances total approximately $6.1 billion, including $3.3 billion scheduled for this month, $1.9 billion scheduled for November, and $850 million scheduled for December. The fourth quarter of anticipated new issuances compares to past planned new issuances of approximately $4.9 billion during the third quarter of calendar year 2012, and approximately $5.7 billion during the fourth quarter of calendar year 2011.
Staff from the Office of the State Comptroller chair 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 fourth quarter new money borrowings are expected to include the following:
Refundings and/or reofferings are currently being contemplated by: the Dormitory Authority of the State of New York, the Environmental Facilities Corp., Metropolitan Transportation Authority, New York City, New York City Housing Development Corp., New York State Energy Research & Development Authority, and the Triborough Bridge & Tunnel 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.