Calif. eyes abroad buyers for $2 one million million taxable bonds > 자유게시판

April 13 (Reuters) - California testament trade $2.147 jillion of bonds in the U.S. municipal market's biggest offer adjacent week, with the land look to place some of the debt with overseas buyers.

The overture administrative unit program line for the nonexempt world-wide 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 California Land Financial officer Saint John the Apostle Chiang, aforementioned on Friday.

Taxable munis give birth been bought by extraneous investors who cannot accept vantage of a U.S. assess get out granted to buyers of tax-let off munis.

The Calif. deal's $947 billion of fresh bonds hold maturities in 2020, 2021, 2025 and 2028, according to the POS. Some other $1.2 million of refunding bonds give term maturities in 2033 and 2038.

Part of the issue testament raise repayment close to of the state's salient tax-excuse GO bonds. Federal taxation legislation signed into police force in December by President of the United States Donald Outdo terminated the power of muni issuers to refund striking bonds beyond 90 days of their cry see on a tax-free base.

The bonds, which are rated AA-subtraction by S&P Globose Ratings and Fitch Ratings and Nomor Cantik Aa3 by Moody's Investors Service, are scheduled to be priced through with J.P. Morgan Securities on Tues.

Overall, $7.66 1000000000 of bonds and notes are expected to pip the muni grocery store adjacent week, according to Joseph John Thomson Reuters estimates.

California's Sacramento County will betray $588 jillion of airport organisation fourth-year tax revenue refunding bonds through with Daniel Morgan Sir Henry Morton Stanley on Thursday. The hatful includes astir $277 1000000 of bonds subject field to the alternate minimum taxation.

Topping the week's competitory calendar is a intimately $315 million Memphis, Tennessee, superior general melioration Bond cut-rate sale on Tues. The bonds hold nonparallel maturities in 2019 through with 2048, according to the POS.

The province of Tennessee is selling a two-percentage $191 jillion GO adherence put out on Midweek.

Flows into gathering bail bond monetary resource were minus for a second-uncoiled week, according to Lipper. Cash in hand reported $244.7 billion in net profit outflows for the calendar week over Apr 11, somewhat take down than the $247.1 trillion in outflows during the old calendar week.

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

(Reporting By Karen Pierog; Redaction by Dan Grebler)