Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Review > Headlines for 2015 > News item |
Municipals hold steady to close week; NYC Transitional Finance heads up $8 billion of supply
By Sheri Kasprzak
New York, Oct. 16 – Municipals closed a busy week mostly unmoved amid light action Friday, market insiders reported.
Yields on top-rated municipals were unchanged on the session, mostly on par with Treasuries.
Coming up in the week ahead, about $8 billion of new offerings are set to hit the market, including a $1 billion offering from the New York City Transitional Finance Authority.
The series 2016 future tax secured subordinate bonds will be offered Thursday through a syndicate led by J.P. Morgan Securities LLC, BofA Merrill Lynch, Barclays, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Goldman Sachs & Co. and Wells Fargo Securities LLC.
The offering includes $600 million of series 2016B bonds, $350 million of series 2016C bonds and $50 million of series 2016D bonds.
Proceeds will be used to finance capital projects and refund outstanding debt.
California G.O. bonds set
Moving to the competitive market, the State of California is ready to bring $960.96 million of series 2015 various purpose general obligation bonds (Aa3/AA-/A+).
The deal includes $105.96 million of series 2015 taxable bonds and $855 million of series 2015 tax-exempt refunding bonds.
Proceeds will be used to fund capital improvements at public facilities, including schools, as well as to refund existing bonds.
N.J. Turnpike deal planned
Coming up Thursday, the New Jersey Turnpike Authority is ready to sell $750 million of series 2015E turnpike revenue bonds (A3/A+/A).
The bonds are due 2031 to 2034 with a term bond due in 2045 and will be sold through Citigroup Global Markets Inc.
Proceeds will finance capital improvement projects.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.