The primary market is set for a big bond bonanza this week with some of the most well-known issuers coming to market with mega deals. Volume is estimated at about $10 billion, with three issuers alone accounting for roughly $4 billion.

The New York City Transitional Finance Authority is scheduled to bring $1 billion to market Wednesday, with an $850 million negotiated component and the remainder offered competitively.

California is set to bring $1.59 billion to market over three competitive offerings Tuesday. The sales feature splits of taxables and general obligations, and new money and refunding bonds. New money proceeds will go towards high-speed rail.

Also on Tuesday, Illinois is slated to come with $1.5 billion in three competitive sales. This is the first piece of $6 billion in planned GO borrowing to pay down a massive $15 billion backlog of bills that piled up during a record two-year budget impasse. The sales mark its first GO offering since late last year and while the state’s fiscal condition remains distressed, buyers are expected to be drawn by rich spread penalties from a state with still strong GO statutory protections.

I’m Aaron Weitzman and this has been your Muni Minute.

WHITESMEN: The primary market is set for a big bond bonanza this week with some of the most well-known issues coming to market with mega deals. The volume is estimated at about $10 billion, with three issuers alone accounting for roughly $4 billion. The New York City Transitional Finance Authority is scheduled to bring $1 billion to market Wednesday, with an $850 million negotiated component and the remainder offered competitively. California is set to bring $1.59 billion to market over three competitive offerings Tuesday. The sale features splits of taxables and general obligations, new money and refunding bonds. New money proceeds will go towards high-speed rail. Also on Tuesday, Illinois is slated to come with $1.5 billion in three competitive sales. This is the first piece of $6 billion in planned GO borrowing to pay down a massive $15 billion backlog of bills that piled up during a record two-year budget impasse. The sale marks its first GO offering late last year and while the state’s fiscal condition remains distressed, buyers are expected to be drawn by a rich spread penalties from a state with still strong GO statutory protections. I’m Aaron Weitzman and this has been your Muni Minute.