New York State and New York City’s borrowing authorities plan to issue up to $5.72 billion of debt in the first quarter, of which $4.83 billion will be new money, according to a forward issuance calendar released by the state comptroller’s office last week.

The amount of new-money bonds expected to be issued has dropped compared to the $7 billion planned in the first quarter of 2009 and the $6.3 billion in the fourth quarter. Another change from a year ago is the use of taxable Build America Bonds. Out of 15 deals on the calendar, six, totaling $3.36 billion, include BABs.

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