Wisconsin plans to wait until after holiday week to issue $135 million bonds

By Cristal Cody

Springdale, Ark., Jan. 17 - Wisconsin is considering pricing $135 million clean water fixed-rate bonds the week of Jan. 28 instead of next week as previously reported.

The federal holiday on Monday cuts the market week too short, Larry Dallia, deputy capital finance director for the state, said Thursday.

The state will issue 2008 series 1 clean water revenue bonds of about $100 million and the 2008 series 2 clean water revenue refunding bonds of about $35 million, with the final amounts depending on the market, Dallia said.

Series 1 bonds have preliminary serial maturities from 2009 to 2028, while Series 2 bonds mature 2016 to 2019, he said.

The lead underwriter on the issues is Morgan Stanley.

Wisconsin's bonds received an Aa1 rating Wednesday from Moody's Investors Service.

The series 1 proceeds will be used for loans to municipalities for improvements to wastewater treatment facilities, while the series 2 proceeds will be used to refund outstanding bonds.

© 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.