The municipal market was mixed yesterday, as the Bay Area Toll Authority led an active primary market with $1.3 billion of taxable Build America Bonds.

In the new-issue market, Citi priced BATAs $1.3 billion BAB offering, which matures in 2049. The bonds yield 6.263%, priced at par, or 4.07% after the 35% federal subsidy. The bonds are rated Aa3 by Moody’s Investors Service and AA by Standard & Poor’s, and AA-minus by Fitch Ratings.

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