Tentative Schedule Includes $3.68 Billion of New Money and Refunding Debt Sales
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 second quarter of 2020.
The planned sales of $3.68 billion include $2.63 billion of new money and $1.05 billion of refundings and reofferings as follows:
- $366 million scheduled for April, of which $37.8 million is for new money and $328.5 million for refunding purposes;
- $2.90 billion scheduled for May, of which $2.31 billion is for new money purposes and $590 million is for refunding or reoffering purposes; and
- $410 million scheduled for June, of which $200 million is for new money purposes and $210 million is for refunding purposes.
The anticipated sales in the second quarter compare to past planned sales of $5.39 billion during the first quarter of 2020, and $3.54 billion during the second quarter of 2019.
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 second quarter calendar includes anticipated bond sales by the following issuers: the Dormitory Authority of the State of New York, the Empire State Development Corp., the New York State Energy Research and Development Authority, the New York State Housing Finance Agency, and the Port Authority of New York & New Jersey.
The detailed forward issuance calendar can be obtained at: www.osc.state.ny.us/pension/
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