New York State government plans to sell at least $1.44 billion in bonds by the start of April.
The state plans to sell $630 million in dedicated transportation revenue bonds in February. These will be named the second general highway and bridge trust fund bonds series 2013A. The deal will be negotiated.
The New York Transportation Authority will sell the bonds.
In March New York plans to sell $450 million in general obligation bonds. They will be named the general obligation bonds series 2013A and series 2013B. The second series will be federally taxable. New York State plans to sell them directly and not through a conduit. The sale will be competitive.
Also in March, New York plans to sell $360 million in personal income tax revenue bonds. The Dormitory Authority of the State of New York will bring the sale to the market. The bonds will be named personal income tax revenue bonds (general purpose) series 2013A and series 2013B. The series 2013B bonds will be federally taxable.
Additionally, New York has preliminary expectations to sell two personal income tax revenue bonds in February or March, a source at the state's budget office said.
One may be for $100 million and be sold on a competitive basis. This would be federally taxable and issued through the Empire State Development Corp.
Another of these bonds would be for $750 million. Wells Fargo, RBC Capital Markets, Ramirez & Co., and Rice Financial Products Co. are the underwriters. The Empire State Development Corp. is the issuer.