New York State, New York City, and their authorities plan to sell $3.02 billion of bonds in the third quarter of 2014.
The figure is an increase from what had been anticipated as $2.2 billion in sales by the same issuers in the second quarter, according to New York State Comptroller Thomas DiNapoli. It is slightly down from the planned sale of $3.21 billion in the third quarter of 2013.
The third quarter's new money bonds include up to $1 billion from the New York Transitional Finance Authority for two deals in July, up to $400 million of variable rate debt from New York City Municipal Water Finance Authority in July, up to $800 million from New York City in September, and up to $500 million from the Metropolitan Transportation Authority in September.
As for refunding bonds, in late July the Port Authority of New York and New Jersey plans to sell $950 million and in the week of August 11 New York City plans to sell $900 million.
All of the above-mentioned bonds except for a $125 million TFA bond are expected to be tax-exempt.
