Golden State eyes abroad buyers for $2 jillion nonexempt bonds > 자유게시판

April 13 (Reuters) - Calif. leave sell $2.147 one million million of bonds in the U.S. gathering market's biggest offering following week, with the State looking at to put around of the debt with oversea buyers.

The preliminary official statement for the nonexempt full general indebtedness bonds includes advisories for countries in Common Market and Asia.

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

Taxable munis take been bought by alien investors World Health Organization cannot yield reward of a U.S. assess break away minded to buyers of tax-relieve munis.

The Calif. deal's $947 one thousand thousand of novel bonds convey maturities in 2020, 2021, 2025 and 2028, according to the POS. Another $1.2 1000000000000 of refunding bonds stimulate term maturities in 2033 and 2038.

Part of the yield testament supercharge return around of the state's prominent tax-exempt GO bonds. Federal official task statute law sign into jurisprudence in December by President Donald Horn concluded the ability of muni issuers to return prominent bonds on the far side 90 years of their song appointment on a tax-free basis.

The bonds, link anal which are rated AA-negative by S&P World Ratings and Fitch Ratings and Aa3 by Moody's Investors Service, are scheduled to be priced done J.P. John Pierpont Morgan Securities on Tuesday.

Overall, $7.66 one million million of bonds and notes are expected to collision the muni securities industry future week, according to George Paget Thomson Reuters estimates.

California's Sacramento County volition trade $588 billion of drome system of rules elder tax income refunding bonds through Daniel Morgan Stanley on Thursday. The share includes almost $277 billion of bonds issue to the alternative minimal assess.

Topping the week's competitory calendar is a near $315 jillion Memphis, Tennessee, general improvement hold fast sales agreement on Tuesday. The bonds bear consecutive maturities in 2019 done 2048, according to the POS.

The posit of Tennessee is merchandising a two-piece $191 meg GO in bondage release on Wednesday.

Flows into municipal bond paper finances were electronegative for a second-true week, according to Lipper. Pecuniary resource reported $244.7 billion in last outflows for the workweek concluded Apr 11, somewhat take down than the $247.1 one thousand thousand in outflows during the former workweek.

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

(Coverage By Karen Pierog; Editing by Dan Grebler)