CHICAGO — Wisconsin today will competitively sell $456 million of tax-exempt general obligation debt and taxable Build America Bonds, marking its first chance to benefit from a change in state law allowing the capital finance department to drop purchase-price limits on GO issues.

By eliminating a limit Wisconsin will allow buyers to offer a higher coupon, in turn lowering yields paid by the state. The state previously limited the purchase price to not more than 106% of the par amount because it was required to deposit the purchase premium into a bond security redemption fund.

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.