Reuters logo
U.S. municipal debt sales to total $4.48 bln next week
February 24, 2017 / 5:30 PM / 9 months ago

U.S. municipal debt sales to total $4.48 bln next week

Feb 24 (Reuters) - A wave of water debt will hit the U.S. municipal bond market next week as part of $4.48 billion in bond and note sales by states, cities, schools and other issuers, according to Thomson Reuters estimates on Friday.

The California Infrastructure and Economic Development Bank will issue $450 million of top-rated clean water state revolving fund revenue bonds.

The debt is structured with serial maturities from 2018 through 2036, according to the preliminary official statement.

Underwriter Morgan Stanley has scheduled a Tuesday retail order period for the so-called green bonds ahead of formal pricing on Wednesday.

New York City’s Municipal Water Finance Authority will sell $375 million of water and sewer second general resolution revenue bonds. Senior underwriter Siebert Cisneros Shank & Co will hold a retail presale period for the bonds on Monday with formal pricing on Tuesday.

Among competitive offerings, Maryland’s Baltimore County will sell $199.1 million of bonds and $121 million of bond anticipation notes on Wednesday. Clark County, Nevada, has set a $317.78 million general obligation bond bank refunding bond sale for Wednesday.

Meanwhile, U.S. municipal bond funds reported a seventh-straight week of net inflows. The week ended Feb. 22 had $149.3 million of net inflows, down from $480 million in the previous week, according to Lipper, a unit of Thomson Reuters. (Reporting by Karen Pierog; Editing by James Dalgleish)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below