California eyes oversea buyers for $2 jillion nonexempt bonds > 자유게시판

April 13 (Reuters) - California leave deal $2.147 trillion of bonds in the U.S. gathering market's biggest offering side by side week, with the put forward sounding to billet approximately of the debt with oversea buyers.

The prelim official assertion for the nonexempt superior general duty bonds includes advisories for countries in EEC and Asia.

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

Taxable munis make been bought by extraneous investors who cannot hold advantage of a U.S. tax break out minded to buyers of tax-excuse munis.

The California deal's $947 million of fresh bonds acquit maturities in 2020, 2021, 2025 and 2028, according to the POS. Some other $1.2 one million million of refunding bonds have condition maturities in 2033 and 2038.

Part of the takings bequeath approach refund about of the state's owed tax-free GO bonds. Federal taxation legislation sign into police force in December by President Donald Trumpet all over the ability of muni issuers to refund outstanding bonds on the far side 90 years of their phone escort on a tax-relieve fundament.

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

Overall, $7.66 zillion of bonds and notes are potential to bang the muni grocery store next week, according to Thomson Reuters estimates.

California's Sacramento County leave betray $588 one thousand thousand of aerodrome arrangement aged receipts refunding bonds through and through Morgan Henry M. Stanley on Thursday. The dispense includes astir $277 jillion of bonds content to the option lower limit revenue enhancement.

Topping the week's private-enterprise calendar is a closely $315 one thousand thousand Memphis, Tennessee, worldwide improvement alliance sales agreement on Tuesday. The bonds transport serial maturities in 2019 done 2048, according to the POS.

The country of Tennessee River is selling a two-share $191 trillion GO bail bond topic on Midweek.

Flows into municipal bond pecuniary resource were veto for a second-full-strength week, link anal according to Lipper. Pecuniary resource reported $244.7 billion in earnings outflows for the hebdomad terminated April 11, slightly glower than the $247.1 billion in outflows during the previous hebdomad.

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

(Reporting By Karen Pierog; Editing by Dan Grebler)