New York State plans to increase third-quarter issuance by nearly $5 billion.
The tentative schedule released Wednesday by State Comptroller Thomas DiNapoli proposes $6.51 billion in debt sales the next three months, compared with $1.65 billion during the third quarter of 2015. The Empire State is looking at $2.19 billion in issuance for July, $1.77 billion in August and $2.55 billion set for September.
Some of the largest new money borrowings proposed by DiNapoli include:
- City of New York – bond sales totaling up to $1.38 billion in fixed rate tax-exempt and taxable bonds as well as variable rate tax-exempt bonds for the month of August.
- New York City Transitional Finance Authority – a bond sale of up to $1.05 billion in fixed rate tax-exempt and taxable bonds for the month of July and a bond sale of up to $1.05 billion in fixed rate tax-exempt and taxable bonds for the month of September.
- Dormitory Authority of the State of New York (DASNY) – bond sales totaling up to $59 million in fixed and variable rate tax-exempt bonds for the month of July and a bond sale of up to $750 million in fixed rate tax-exempt bonds for the month of September.
- Metropolitan Transportation Authority – a bond sale of up to $575 million in fixed rate tax exempt bonds for the month of July.
- New York City Municipal Water Finance Authority – a bond sale of up to $400 million in fixed rate tax-exempt bonds for the month of September.
- Long Island Power Authority (LIPA) – a bond sale of up to $350 million in fixed rate tax-exempt bonds for the month of September.
- New York State Housing Finance Agency – bond sales totaling up to $383.2 million in fixed rate tax-exempt bonds as well as variable rate tax-exempt and taxable bonds for the month of July and a bond sale of up to $224.5 million in variable rate tax-exempt and taxable bonds for the month of August.
- New York State Environmental Facilities Corporation – a bond sale of up to $167.8 million in fixed rate tax-exempt and taxable bonds for the month of August.
· State of New York Mortgage Agency – a bond sale of up to $125 million in fixed and variable rate tax-exempt bonds for the month of July.
DiNapoli also said refundings or reofferings are under consideration by DASNY, LIPA, the New York State Housing Finance Authority, the State of New York Mortgage Agency, and the Utility Debt Securitization Authority.
