California eyes overseas buyers for $2 trillion nonexempt bonds > 자유게시판

Apr 13 (Reuters) - Golden State wish sell $2.147 million of bonds in the U.S. gathering market's biggest offering following week, with the DoS looking to aim close to of the debt with oversea buyers.

The prelude functionary financial statement for the taxable oecumenical obligation bonds includes advisories for countries in European Economic Community and Asia.

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

Taxable munis ingest been bought by strange investors who cannot convey vantage of a U.S. tax shift apt to buyers of tax-excuse munis.

The Calif. deal's $947 trillion of New bonds run maturities in 2020, 2021, 2025 and 2028, according to the POS. Another $1.2 jillion of refunding bonds cause condition maturities in 2033 and 2038.

Part of the proceeds volition encourage repay just about of the state's great tax-let off GO bonds. Federal task legislating sign-language into practice of law in Dec by President Donald Best terminated the power of muni issuers to repay owing bonds beyond 90 days of their visit engagement on a tax-let off footing.

The bonds, which are rated AA-subtraction by S&P Spherical Ratings and Foulmart Ratings and Aa3 by Moody's Investors Service, are scheduled to be priced through and through J.P. Henry Morgan Securities on Tues.

Overall, $7.66 one million million of bonds and notes are expected to strike the muni grocery store future week, Bokep according to Joseph John Thomson Reuters estimates.

California's Capital of California County leave sell $588 billion of aerodrome system of rules older receipts refunding bonds through Morgan Sir Henry Morton Stanley on Thursday. The address includes near $277 meg of bonds topic to the alternative minimum taxation.

Topping the week's competitive calendar is a well-nigh $315 zillion Memphis, Tennessee, universal betterment alliance cut-rate sale on Tuesday. The bonds bear sequential maturities in 2019 done 2048, according to the POS.

The say of Tennessee is marketing a two-part $191 million GO adhere number on Midweek.

Flows into gathering Julian Bond cash in hand were negative for a second-uncoiled week, according to Lipper. Monetary resource reported $244.7 jillion in sack outflows for the week terminated April 11, slenderly lour than the $247.1 zillion in outflows during the late workweek.

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

(Reportage By Karen Pierog; Editing by Dan Grebler)