UPDATE 2-Storm pushes muni bond sales status to day-to-day
Oct 29 (Reuters) - Top municipal bond underwriters said on Monday they are putting negotiated U.S. municipal bond sales scheduled for this week on a day-to-day status due to the hurricane bearing down on the East Coast.
Underwriters contacted by Reuters were Bank of America Merrill Lynch, Morgan Stanley, J.P. Morgan Securities, Barclays Capital and Loop Capital Markets.
Morgan Stanley is the senior manager on the week's biggest negotiated deal -- $400 million of Connecticut general obligation bonds.
The underwriter also postponed a $297 million Utah Transit Authority subordinated sales tax revenue bond issue and East Bay Municipal Utility District's $275 million revenue refunding bond issue for California's Alameda and Contra Costa counties.
Wisconsin, which planned to launch its taxable $251 million general fund annual appropriation refunding bond issue on Monday through Jefferies & Co, was putting the deal on hold, a state official said.
For a full negotiated sales calendar, see
Issuers that had scheduled competitive sales for this week in the $3.7 trillion market were also delaying their deals amid dire storm warnings that shuttered Wall Street and closed U.S. bond markets early on Monday.
Virginia College Building Authority postponed its $142 million educational facilities revenue bond sale scheduled for Tuesday, while Maryland's Washington Suburban Sanitary District also put on hold its $250 million bond sale that was scheduled for Tuesday.
On Friday, New Jersey postponed its competitive sale of $2.6 billion of notes.
Deals this week had been estimated to total $6.9 billion before the postponements.