U.S. Treasury resumes "slugs" issuance after debt-ceiling halt

WASHINGTON Tue Feb 5, 2013 9:10am EST

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WASHINGTON Feb 5 (Reuters) - The U.S. Treasury Department said on Tuesday it was resuming issuance of State and Local Government Series securities, or "slugs", which was halted to preserve borrowing capacity as the nation neared the legal limit on its debt.

The Treasury said issuance would resume at noon (1700 GMT).

Slugs are special low-interest Treasury securities offered to state and local governments to temporarily invest proceeds from municipal bond sales.

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