The New Jersey Economic Development Authority Wednesday will issue $750 million of taxable school construction Build America Bonds, in what could be the BAB market’s largest floating-rate note sale.

The deal will be structured as $750 million of taxable BAB notes with yields based on the three-month London Interbank Offered Rate plus a spread. The current three-month Libor rate is 0.37%.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.