New York issuers to price about $3 billion in new debt, $6.16 billion in refundings, conversions

By Cristal Cody

Springdale, Ark., May 9 - New York issuers intend to price about $3 billion in new money debt and $6.16 billion in refundings and conversions through June, according to a news release from New York state comptroller Thomas P. DiNapoli.

New money debt expected to price in the second quarter includes $1.4 billion scheduled for May and $1.6 billion scheduled for June, according to a preliminary forward issuance calendar DiNapoli's office released.

New debt includes $500 million water and sewer capital projects fixed-rate bonds from the New York City Municipal Water Finance Authority, which is expected to price the week of May 26.

Other scheduled sales include the New York City Transitional Finance Authority's $650 million fixed-rate building aid revenue bonds on June 10 and the New York State Environmental Facilities Corp.'s $150 million fixed-rate pooled bonds the week of June 23.

Refundings are being considered during the second quarter by the Dormitory Authority of the State of New York, the Empire State Development Corp., the New York Local Government Assistance Corp., the New York State Environmental Facilities Corp., the New York State Housing Finance Agency, the Long Island Power Authority, the State of New York and the Thruway Authority.

The Nassau County Interim Finance Authority is expected to price $124 million variable-rate refunding bonds on May 29, and the Empire State Development Corp. plans to price $495 million variable-rate refunding bonds the week of June 2.

Also in June, the New York State Housing Finance Agency plans to price $178 million variable-rate service contract refunding bonds and the New York State Thruway Authority is scheduled to price $530 million consolidated local street and highway improvement program (CHIPs) variable-rate refunding bonds.

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