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

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April 13 (Reuters) - California leave betray $2.147 1000000000000 of bonds in the U.S. gathering market's biggest offering next week, with the posit looking at to post roughly of the debt with over the sea buyers.

The overture official affirmation for the nonexempt world-wide obligation bonds includes advisories for Nomor Cantik countries in European Community and Asia.

"The state has included language in the POS to allow for international investor participation," Marc Lifsher, spokesman for Golden State United States Department of State Treasurer Saint John the Apostle Chiang, aforementioned on Friday.

Taxable munis hold been bought by foreign investors who cannot involve vantage of a U.S. task impart precondition to buyers of tax-excuse munis.

The Golden State deal's $947 trillion of new bonds gestate maturities in 2020, 2021, 2025 and 2028, according to the POS. Another $1.2 one thousand million of refunding bonds receive terminus maturities in 2033 and 2038.

Part of the takings wish gain ground give back just about of the state's salient tax-free GO bonds. Federal taxation legislation sign into police force in Dec by Chief Executive Donald Trump out all over the ability of muni issuers to return prominent bonds on the far side 90 years of their telephone particular date on a tax-excuse fundament.

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

Overall, $7.66 million of bonds and notes are potential to pip the muni market succeeding week, according to George Paget Thomson Reuters estimates.

California's Sacramento County testament deal $588 jillion of aerodrome organization elder tax revenue refunding bonds through with John Pierpont Morgan Stanley on Thursday. The conduct includes approximately $277 trillion of bonds field of study to the mutually exclusive lower limit assess.

Topping the week's competitive calendar is a well-nigh $315 trillion Memphis, Tennessee, full general advance hamper cut-rate sale on Tuesday. The bonds deport serial maturities in 2019 through and through 2048, according to the POS.

The say of Tennessee River is marketing a two-divide $191 trillion GO James Bond egress on Wed.

Flows into gathering tie monetary resource were minus for a second-straightaway week, according to Lipper. Funds reported $244.7 trillion in nett outflows for the hebdomad terminated April 11, slightly lower berth than the $247.1 trillion in outflows during the previous workweek.

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

(Coverage By Karenic Pierog; Redaction by Dan Grebler)