New York State Comptroller Thomas P. DiNapoli today announced a tentative schedule for the planned bond sales for the state, New York City and their major public authorities during the first quarter of 2018.
The planned sales of $3.12 billion include $1.73 billion of new money and $1.39 billion of refundings or reofferings as follows:
- $2.7 billion scheduled for January, of which $1.4 billion is new money and $1.3 billion is refundings or reofferings; and
- $425 million scheduled for March, of which $335 million is new money and $90 million is refundings.
The anticipated sales in the first quarter compare to past planned sales of $8.02 billion during the fourth quarter of 2017, and $4.27 billion during the first quarter of 2017.
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.
A new schedule is released every quarter and updated as necessary. The schedule is released by the committee to assist participants in the municipal bond market. It is contingent upon execution of all project approvals required by law. 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 prospective first quarter calendar includes anticipated bond sales by the following issuers: the Dormitory Authority of the State of New York, the Metropolitan Transportation Authority, the New York State Energy Research & Development Authority, the Port Authority of New York & New Jersey, the State of New York, the State of New York Mortgage Agency and the Triborough Bridge & Tunnel Authority.
The detailed forward issuance calendar can be obtained at: www.osc.state.ny.us/pension/scccalendar.pdf
For access to state and local government spending, public authority financial data and information on 140,000 state contracts, visit Open Book New York. The easy-to-use website was created to promote transparency in government and provide taxpayers with better access to financial data.