Feb 24 A wave of water debt will hit the U.S.
municipal bond market next week as part of $4.48 billion in bond
and note sales by states, cities, schools and other issuers,
according to Thomson Reuters estimates on Friday.
The California Infrastructure and Economic Development Bank
will issue $450 million of top-rated clean water state revolving
fund revenue bonds.
The debt is structured with serial maturities from 2018
through 2036, according to the preliminary official statement.
Underwriter Morgan Stanley has scheduled a Tuesday retail
order period for the so-called green bonds ahead of formal
pricing on Wednesday.
New York City's Municipal Water Finance Authority will sell
$375 million of water and sewer second general resolution
revenue bonds. Senior underwriter Siebert Cisneros Shank & Co
will hold a retail presale period for the bonds on Monday with
formal pricing on Tuesday.
Among competitive offerings, Maryland's Baltimore County
will sell $199.1 million of bonds and $121 million of bond
anticipation notes on Wednesday. Clark County, Nevada, has set a
$317.78 million general obligation bond bank refunding bond sale
Meanwhile, U.S. municipal bond funds reported a
seventh-straight week of net inflows. The week ended Feb. 22 had
$149.3 million of net inflows, down from $480 million in the
previous week, according to Lipper, a unit of Thomson Reuters.
(Reporting by Karen Pierog; Editing by James Dalgleish)