Municipal bond issuance in New York State will be down slightly in the fourth quarter compared to a year earlier, according a tentative schedule released by Comptroller Thomas DiNapoli.
Proposed new issuance for the last three months of the year totals $5.68 billion, compared to $6.71 billion in the 2014 fourth quarter, DiNapoli announced on Oct. 1. There are $2.97 billion in bond sales scheduled for October, $1.41 billion for November and $1.3 billion for December.
The Dormitory Authority of the State of New York highlights the fourth-quarter calendar with a bond sale of $1 billion in tax-exempt fixed rate bonds in October and $200 million of tax-except fixed rate bonds for November. Empire State Development is also planning a $1.3 billion sale of tax-exempt and taxable fixed rate bonds in December and the Long Island Power Authority is slated to sell $100 million in tax-exempt variable rate bonds this month. The Metropolitan Transportation Authority has a $700 million tax-exempt fixed rate note sale planned for November.
Refundings or reofferings are also being considered by LIPA, MTA, the Nassau County Interim Finance Authority, the New York City Transitional Finance Authority, the New York Power Authority, the Port Authority of New York & New Jersey, the Triborough Bridge & Tunnel Authority and the Utility Debt Securitization Authority.
