In what would be the largest competitive municipal bond offering since the Lehman Brothers Holdings Inc. bankruptcy in mid-September, Pennsylvania early next month hopes to issue what it has always offered the market - plain-vanilla, fixed-rate bonds.

The state plans to sell on Dec. 9 as much as $600 million of 20-year general obligation debt on Ipreo's Parity electronic bidding platform. Officials are prepared to alter the deal if necessary in response to market conditions by cutting the size of the offering or even moving the sale to a different date.

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.