The municipal market was slightly firmer yesterday as a slew of new issuance hit the primary market, including three sizeable Build America Bond deals.In the new-issue market, Barclays Capital priced $601.1 million of I-JOBS special obligation bonds for Iowa in two series, including over $220 million of taxable BABs. Bonds from the $380.1 million tax-exempt Series A mature from 2011 through 2029, with yields ranging from 1.20% with a 5% coupon in 2011 to 4.64% with a 4.625% coupon in 2029. Thee bonds are callable at par in 2019.

Bonds from the $221 million Series B of taxable BABs mature in 2034, yielding 6.80% with a 6.75% coupon, or 4.39% after the 35% federal subsidy. The bonds were priced to yield 250 basis points over the comparable Treasury yield. The bonds are also callable at par in 2019. The credit is rated Aa3 by Moody's Investors Service and AA by Standard & Poor's.

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