This sultry summer week will get even hotter as about $7.5 billion of municipal bonds are on tap to be offered up to buyers. Deals will be coming for a variety of issuers across the country, ranging from high-quality to high-yield.
Some big deals are heading into the municipal bond marketplace this week as sales from a convention center in Washington state and the state of Maryland will be offered to buyers still flush with cash from the June-July redemption period.
Even as debate rages in Congress about whether to slash the federal government’s role in transportation funding, the New Jersey Transportation Trust Fund Authority is coming to market with $1.2 billion of federal highway reimbursement revenue refunding notes.
Buyers of municipal bonds will see a sale this week that offers some high yields in return for taking on some additional risk not usually associated with typical deals. California’s Golden State Tobacco Securitization Corp. is issuing a $1.7 billion tobacco bond deal consisting of serials and turbo terms.