Financing
New York City General Obligation Bonds
Since July 1, 2024, the city has issued $7.7 billion in GO bonds for capital purposes and approximately $2.0 billion in GO refunding bonds. The dates and principal amounts are shown in the table titled “NYC GO Issuance”.
NYC GO Issuance
($ in millions)
| Series | (N)ew $/(R)efunding | Issue Date | Tax Exempt Amount | Taxable Amount | Total Par Amount |
|---|---|---|---|---|---|
| 2023 A | N | 9/8/2022 | $1,250 | $125 | $1,375 |
| 2023 B | N | 10/18/2022 | 950 | 400 | 1,350 |
| 2023 CD | R | 3/14/2023 | 688 | 0 | 688 |
| 2023 E | N | 4/11/2023 | 950 | 240 | 1,190 |
| Total | $3,838 | $765 | $4,603 |
In October 2024, the city issued its third series of Social Bonds, structured as $820 million of taxable GO bonds. The proceeds of the Social Bonds sale financed affordable housing programs administered by the city’s Department of Housing Preservation and Development.
The city’s GO refunding transactions completed in fiscal 2025 generated approximately $150 million of debt service savings during the financial plan period.
Additionally, the city took steps to manage outstanding floating rate debt by reoffering approximately $139 million of floating rate bonds in a fixed rate mode.
The city plans to issue GO bonds for capital purposes of approximately $7.7 billion, $7.2 billion, $7.0 billion, $7.3 billion, and $7.5 billion in 2025 through 2029, respectively.