Tentative Schedule Includes $6.9 Billion of New Money and Refunding Debt Sales
The planned sales of $6.91 billion include $6.28 billion of new money and $630 million of refundings and reofferings as follows:
- $2.33 billion scheduled for January, $2.15 billion of which is for new money purposes and $179 million of which is for refunding or reoffering purposes; and
- $1.61 billion scheduled for February, $1.15 billion of which is for new money purposes and $451 million of which is for refunding purposes; and
- $2.97 billion scheduled for March, all of which is for new money purposes.
The anticipated sales in the first quarter compare to past planned sales of $5.05 billion during the fourth quarter of 2021, and $6.92 billion during the first quarter of 2021.
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 City Municipal Water Finance Authority, the New York City Transitional Finance Authority, the New York Liberty Development Corporation, the New York State Housing Finance Agency, the New York Transportation Development Corporation, and the Triborough Bridge and Tunnel Authority.