NEW YORK, March 24 The Detroit Water and
Sewerage Department is planning to issue $150 million of
new-money sewer bonds in June, according to a report in the Bond
Buyer on Monday, citing a request for proposals issued by the
Michigan Department of Treasury.
The Treasury issued the request to underwriters on March 12,
and responses are due on Tuesday. The Michigan Finance Authority
will be a conduit for the deal, and proceeds will be used for
capital improvements, according to the report.
(Reporting by Edward Krudy; Editing by Jonathan Oatis)