The sale of bonds and notes next week by U.S. states, cities, schools and other issuers will total $7.5 billion, including a chunk of debt out of Wisconsin, according to Thomson Reuters estimates on Friday. The Regents of the University of California will sell the week’s biggest issue – $1.134 billion of taxable and tax-exempt AA-rated general revenue bonds. Lead underwriter Jefferies has planned a retail presale period for Wednesday ahead of formal pricing on Thursday. Wisconsin has a $403 million general fund annual appropriation refunding bond issue pricing through Wells Fargo Securities on Tuesday. The taxable bonds will carry serial maturities in 2018 through 2033, according to the preliminary official statement. In a separate issue also slated to price Tuesday through J.P. Morgan, Wisconsin will sell $285 million of transportation revenue bonds. The debt has serial maturities from 2020 through 2037. Milwaukee, the state’s biggest city, has scheduled three competitive debt sales for Thursday – $132.2 million of general obligation promissory notes, $120 million of revenue anticipation notes and $18.2 million of taxable GO promissory notes. U.S. municipal bond fund flows were positive for a third-straight week with net inflows of $144.5 million for the week ended April 26, according to Lipper, a unit of Thomson Reuters. That was down from $290.2 million in the previous week.
Reuters
Fri Apr 28, 2017 | 11:38am EDT
(Reporting By Karen Pierog; Editing by Bernard Orr)