U.S. muni bond sales to total $5.78 billion next week

Fri May 3, 2013 11:04am EDT

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NEW YORK, May 3 (Reuters) - U.S. municipal bond sales are
expected to fall next week to $5.78 billion from this week's
total of $6.4 billion, according to Thomson Reuters estimates
released on Friday.
    Negotiated sales next week are expected to total $3.78
billion in 79 issues, compared with $5.3 billion in 79 deals
this week.
    Missouri's Higher Education Loan Authority will sell $970.8
million of student-loan, asset-backed LIBOR floating rate notes
through Morgan Stanley. The notes carry a final maturity date of
June 25, 2032, according to the preliminary official statement.
    Morgan Stanley will also price $202 million of sales tax
refunding bonds for Colorado's Regional Transportation District.
    Competitive deals are expected to total $2 billion in 109 
sales compared with $1.1 billion in 61 issues in the week ended
May 3.
 
    Illinois will sell on Thursday $300 million of taxable sales
tax revenue bonds to be offered with serial maturities from 2013
through 2037, according to the POS.
    The Build Illinois Bond deal will be the state's first
revenue bond sale since about a year ago, John Sinsheimer, the
state's capital markets director said earlier this week.
    The sale will mark the state's second trip to the $3.7
trillion municipal bond market so far this year. On April 2,
Illinois sold $350 million of taxable and $450 million of
tax-exempt GO bonds in competitive deals that each attracted
bids from nine banks.
    Fitch Ratings on Thursday assigned the bonds a AA-plus
rating, which is four notches higher than the state's A general
obligation bond rating.
    The Build Illinois bonds are supported by the state's sales
tax revenues, which are currently rebounding. In fiscal 2012 the
sales tax generated almost $7.7 billion, according to Fitch.
    On Tuesday, Louisiana will sell $300 million of GO bonds in
a two-part sale.
    The deal consists of $130.7 million of tax-exempt bonds with
serial maturities from 2014 through 2033 and $169.3 million of
taxable bonds with serial maturities from 2014 through 2026,
according to the POS.
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