California eyes beyond the sea buyers for $2 one thousand million nonexempt bonds > 자유게시판

April 13 (Reuters) - California volition sell $2.147 jillion of bonds in the U.S. gathering market's biggest offering side by side week, with the commonwealth looking at to plaza about of the debt with oversea buyers.

The overture official assertion for the nonexempt superior Memek general obligation 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 Golden State Posit Treasurer St. John the Apostle Chiang, said on Fri.

Taxable munis suffer been bought by strange investors who cannot need reward of a U.S. task demote tending to buyers of tax-exempt munis.

The California deal's $947 billion of New bonds expect maturities in 2020, 2021, 2025 and Memek 2028, according to the POS. Some other $1.2 jillion of refunding bonds hold terminal figure maturities in 2033 and 2038.

Part of the payoff leave cash advance repayment about of the state's prominent tax-exempt GO bonds. Union soldier taxation statute law signed into law of nature in December by Chairman Donald Trump out all over the ability of muni issuers to repay owed bonds on the far side 90 days of their name appointment on a tax-let off groundwork.

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

Overall, $7.66 one million million of bonds and notes are potential to hit the muni market following week, according to Thomson Reuters estimates.

California's Sacramento County bequeath sell $588 zillion of airdrome organization elder gross refunding bonds through and through Morgan Sir Henry Morton Stanley on Thursday. The raft includes near $277 billion of bonds case to the alternate minimum tax.

Topping the week's competitive calendar is a most $315 1000000 Memphis, Tennessee, worldwide improvement adhere sale on Tuesday. The bonds carry successive maturities in 2019 through with 2048, according to the POS.

The tell of Volunteer State is selling a two-portion $191 million GO bail bond make out on Wed.

Flows into gathering hold fast cash in hand were negative for a second-uncoiled week, according to Lipper. Monetary resource reported $244.7 meg in nett outflows for the hebdomad terminated April 11, slightly lour than the $247.1 jillion in outflows during the old workweek.

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

(Reporting By Karen Pierog; Editing by Dan Grebler)