March 24, 2014 / 9:46 PM / 4 years ago

Detroit to issue $150 mln in sewer bonds-report

NEW YORK, March 24 (Reuters) - 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)

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