The municipal market remained unchanged yesterday, amid California’s issuance of $1.3 billion of general obligation bonds.

In the new-issue market yesterday, E.J. De La Rosa & Co. priced for institutions $1.3 billion of GOs for California in what is the largest scheduled deal of the week. The sale consists of $1.1 billion of new-money bonds and $194 million of refunding debt. The bonds mature in 2034, 2035, and 2039, with yields ranging from 5.55%  with a 5% coupon in 2034 to 5.63% with a 6% coupon in 2039.

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