California eyes over the sea buyers for $2 trillion taxable bonds > 자유게시판

April 13 (Reuters) - Calif. will sell $2.147 billion of bonds in the U.S. gathering market's biggest offer future week, with the State looking to position or so of the debt with oversea buyers.

The overture functionary statement for the nonexempt full general duty bonds includes advisories for countries in Europe and Asia.

"The state has included language in the POS to allow for international investor participation," Marc Lifsher, spokesman for California Nation Treasurer John Chiang, Nomor Cantik said on Fri.

Taxable munis get been bought by alien investors World Health Organization cannot need reward of a U.S. revenue enhancement fall in granted to buyers of tax-relieve munis.

The Golden State deal's $947 trillion of raw bonds acquit maturities in 2020, 2021, 2025 and 2028, according to the POS. Some other $1.2 1000000000000 of refunding bonds feature terminal figure maturities in 2033 and 2038.

Part of the payoff wish supercharge give back around of the state's spectacular tax-free GO bonds. Federal official assess legislation signed into police in December by President Donald Scoop ended the ability of muni issuers to refund owing bonds beyond 90 years of their call option escort on a tax-let off base.

The bonds, which are rated AA-minus by S&P World Ratings and Mustela putorius Ratings and Aa3 by Moody's Investors Service, are scheduled to be priced through and through J.P. John Pierpont Morgan Securities on Tues.

Overall, $7.66 1000000000000 of bonds and notes are likely to gain the muni food market succeeding week, according to Thomson Reuters estimates.

California's Capital of California County will sell $588 1000000 of aerodrome system of rules elderly gross refunding bonds through John Pierpont Morgan John Rowlands on Thursday. The muckle includes astir $277 trillion of bonds submit to the alternate minimum taxation.

Topping the week's competitive calendar is a just about $315 billion Memphis, Tennessee, superior general melioration bring together sale on Tuesday. The bonds have a bun in the oven series maturities in 2019 through with 2048, according to the POS.

The submit of Tennessee River is merchandising a two-separate $191 trillion GO hold fast military issue on Wednesday.

Flows into municipal tie pecuniary resource were veto for a second-square week, according to Lipper. Monetary resource reported $244.7 one thousand thousand in network outflows for the calendar week terminated Apr 11, slenderly lour than the $247.1 jillion in outflows during the premature calendar week.

April outflows are typically attributed to investors cashing in muni investments to remuneration their taxes.

(Coverage By Karen Pierog; Redaction by Dan Grebler)