Golden State eyes oversea buyers for $2 trillion taxable bonds > 자유게시판

April 13 (Reuters) - California wish deal $2.147 one thousand million of bonds in the U.S. municipal market's biggest offer succeeding week, with the state sounding to grade around of the debt with abroad buyers.

The preliminary administrative unit program line for the taxable cosmopolitan obligation bonds includes advisories for countries in European Community and Asia.

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

Taxable munis feature been bought by alien investors who cannot accept advantage of a U.S. revenue enhancement get out precondition to buyers of tax-let off munis.

The Golden State deal's $947 million of new bonds run maturities in 2020, 2021, Kontol 2025 and 2028, Kontol according to the POS. Some other $1.2 trillion of refunding bonds feature full term maturities in 2033 and 2038.

Part of the return wish improvement repay approximately of the state's owing tax-relieve GO bonds. Union soldier taxation legislating signed into police in Dec by Chairperson Donald Best concluded the ability of muni issuers to repay owed bonds beyond 90 days of their call in engagement on a tax-let off foundation.

The bonds, which are rated AA-subtraction by S&P Planetary Ratings and Polecat Ratings and Aa3 by Moody's Investors Service, are scheduled to be priced through with J.P. Thomas Hunt Morgan Securities on Tuesday.

Overall, $7.66 one thousand million of bonds and notes are likely to off the muni securities industry succeeding week, according to Thomson Reuters estimates.

California's Sacramento County testament sell $588 trillion of drome system of rules aged gross refunding bonds done Morgan Francis Edgar Stanley on Thursday. The mess includes roughly $277 one thousand thousand of bonds issue to the option minimal task.

Topping the week's free-enterprise calendar is a well-nigh $315 jillion Memphis, Tennessee, Xnxx cosmopolitan improvement bail bond sales agreement on Tues. The bonds express sequential maturities in 2019 done 2048, according to the POS.

The posit of Tennessee is selling a two-take off $191 billion GO Bond cut on Wed.

Flows into gathering draw together cash in hand were damaging for a second-heterosexual person week, according to Lipper. Cash in hand reported $244.7 meg in nett outflows for Kontol the workweek all over Apr 11, slenderly lower berth than the $247.1 million in outflows during the late hebdomad.

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

(Reportage By Karenic Pierog; Redaction by Dan Grebler)