Going with the flow

Institutional investors are looking forward to this week’s top-rated muni deal from the Texas Water Board, which is selling $1.6 billion of revenue bonds.

I'm chip walnut, and this is your movie minute.

There will literally be a flood of new issuance this week led by the Texas Water Board which sweeps into the market with a 1.6 billion dollar deal with AAA ratings from S&P and Fitch.

The revenue bonds are expected to attract a lot of interest from institutional investors Citigroup is set the price the bars on Tuesday after one day retail order period proceeds from the sale are designated for projects that will safeguard the Lone Star State's growing population from drought.

This is definitely the biggest transaction for the board in our very long history or chairman Peter Lake told the bomb buyers Rich Williamson.

We'd like to think that water infrastructure is so important to Texas that the size reflects that I'm chip on it and this has been your Muni minute.